Why are Wheat (Safex) Prices so high?
23-10-2025 - Over the past month, Wheat (Safex) prices dropped by 3.3% from 6065.0 R/t on September 22nd to 5862.0 R/t on October 22nd. The high was 6080.0 R/t on September 23rd, with the low matching the current price.
Our one month forecast for Wheat (Safex) is 5744.0 R/t, a decrease of 118.0 R/t or -2.0% from the latest price. Our analysis suggests a slightly higher chance of prices exceeding our forecast than falling short.
Our current forecast shows that Technical data has the most significant impact, reducing the forecasted price by -108.80 R per tonne. The Futures Curve family within the Technical data type has the largest negative impact of -75.2 R/t, followed by Calendar Effects with -26.4 R/t. However, there is disagreement among the data types, with Demand data suggesting upward price pressure of 4.6 R/t, while Flows, Supply, and Technical data types indicate the opposite direction.
Our one month forecast for Wheat (Safex) is 5744.0 R/t, a decrease of 118.0 R/t or -2.0% from the latest price. Our analysis suggests a slightly higher chance of prices exceeding our forecast than falling short.
Our current forecast shows that Technical data has the most significant impact, reducing the forecasted price by -108.80 R per tonne. The Futures Curve family within the Technical data type has the largest negative impact of -75.2 R/t, followed by Calendar Effects with -26.4 R/t. However, there is disagreement among the data types, with Demand data suggesting upward price pressure of 4.6 R/t, while Flows, Supply, and Technical data types indicate the opposite direction.
What is the current / spot price of Wheat (Safex)?
Wheat (Safex) Price Today
October 23, 2025
Current Price
7040
$/bsh
What is the forecast for the price of Wheat (Safex)?
Wheat (Safex) Price Forecast
October 23, 2025
1 Month Forecast
5744
$/bsh
1 Year Forecast
6303.2
$/bsh
What are the short-term drivers of Wheat (Safex) prices?
What are the long-term drivers of Wheat (Safex) prices?
Over the 1 Month horizon the outlook is bearish due to drivers such as: - The shape of the futures curve - Seasonality trends for the prediction week of year - EWMA-based technical analysis - Min. temperature in North Dakota (United States) Br(None) The top contrary drivers for the 1 Month horizon are: - Satellite-observed activity in Saskatchewan (Canada)
Over the 1 Year horizon the outlook is bullish due to drivers such as: - Movements in the South African Rand - The shape of the futures curve (adjusted for the risk free rate and price volatility) - EWMA-based technical analysis Br(None) The top contrary drivers for the 1 Year horizon are: - Global Wheat Ending Stocks
Will the price of Wheat (Safex) go up?
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