Wheat futures rise toward highest finish since August
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 10 2024
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Source: MarketWatch
- Wheat Futures Climbed: Wheat futures rose on Friday, reaching their highest levels since August due to concerns about cold weather affecting wheat production in Russia.
- Price Increase: The most active July wheat futures contract was up 2.8% at $6.54 1/2 a bushel in Chicago, marking a significant increase.
- Highest Settlement Since August: If prices settle around this level, it would be the highest since August 8, 2023, based on Dow Jones Market Data.
- Weekly Performance: Wheat prices are trading 5% higher for the week, reflecting the impact of the market conditions.
- Russia's Production Threatened: The cold weather in Russia, one of the major wheat producers globally, is posing a threat to wheat production, contributing to the price surge.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
