What it is
The grain of bread, pasta and noodles, grown on more land than any other crop. The Chicago contract is for soft red winter wheat and is the most widely followed wheat price in the world; other classes and regions have contracts of their own.
How it is usually quoted
US cents per bushel.
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
CME (Chicago Board of Trade).
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 both hemispheres, since wheat is harvested somewhere in most months
- Exports from Russia and Ukraine and shipping on the Black Sea
- Export restrictions by producing countries
- The US dollar
- The price of maize, which replaces wheat in animal feed
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
China, India and Russia grow the most, followed by the United States, France, Canada, Australia, Ukraine and Pakistan.
The order of producers changes from year to year, so no quantities or shares are given here.
At GIO4X
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.