What it is
Soft wheat of a quality fit for bread flour. The Paris contract is the reference price for wheat grown in the European Union and for much of what is exported from the Black Sea.
How it is usually quoted
Euros per tonne.
This is the customary unit of the reference market. Other markets for the same commodity may use another unit or currency, and an exchange can change a contract’s terms: its own rulebook is the authority.
Where the reference contract trades
Euronext (Paris).
Named for orientation only. Naming an exchange or a market here does not mean that GIO4X gives access to it.
What commonly moves it
- Weather across France, Germany and eastern Europe
- The export prices offered by Russia and Ukraine
- The euro’s exchange rate
- Purchase tenders by importers in North Africa and the Middle East
- The quality of the harvest, above all its protein content
These are the things people who follow this market usually watch. They explain how the market works; they do not say what the price will do next.
Where it comes from
France, Germany, Poland and Romania within the European Union; Russia and Ukraine around the Black Sea.
The order of producers changes from year to year, so no quantities or shares are given here.
At GIO4X
Milling wheat is not offered as a GIO4X instrument. This page is general education about a market that exists elsewhere, and nothing on it means that GIO4X quotes, trades or gives access to it.
The commodities GIO4X does list are Brent crude, gold, natural gas, palladium, platinum, silver and WTI crude.
Words worth knowing
A reference page. Educational information, not investment advice or a recommendation to trade. It gives no price and no forecast.