# Wheat Price Perspective: Return to Long-Term Trends

> World wheat FOB prices have fallen about $32/MT since the start of 2024 and sit near $255/MT below the May 2022 peak, now between $200 and $300/MT. Russian and Black Sea exports and record supplies have removed the war risk premium. The analysis states the market has returned to pre-war trend levels.

- Date: 2024-03-21 · published 2024-03-21T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/31241-wheat-price-perspective-return-to-long-term-trends
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Ample Black Sea supply keeps global wheat prices at pre-war levels, limiting the cost of wheat-based feed ingredients. Buyers face a low-price environment unless supply shocks occur.

## Read by commodity

- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Sources

- uswheat.org: https://uswheat.org/wheatletter/wheat-price-perspectives-a-look-at-long-term-trends/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.