A globally traded agricultural commodity and one of the most important staple food grains, with futures contracts listed on exchanges including the Chicago Board of Trade (CBOT). Wheat prices are influenced by weather conditions in major growing regions, global production and consumption data, government export policies, and geopolitical factors. Traders also distinguish between different wheat varieties including hard red winter, soft red winter, hard red spring, and durum, each with distinct pricing.
Example
“CBOT wheat futures rallied 8% in a single week after drought conditions in the U.S. Great Plains threatened the winter wheat harvest.”