What is Wheat?
Wheat is among the world's largest crops by volume, used for bread, pasta, animal feed, and increasingly biofuels. Major producers: China, India, Russia, US, Canada, France, Australia. Trade is dominated by Russia, US, EU, Canada, and Australia. Prices are set on Chicago Board of Trade (CBOT) and benchmarked globally.
Why it matters for investors
Wheat prices directly affect food inflation, particularly in emerging markets where bread is a staple. Geopolitical events (Black Sea conflicts) can dramatically tighten supply. India has periodically banned exports during domestic shortages, affecting global prices.