Commodity ratio · live
Heating Oil Futures to Wheat Futures Ratio
The heating oil futures to wheat futures ratio is 0.006283 — Heating Oil Futures at $4.36 per Gallan divided by Wheat Futures at $693.90 per Ounce.
Prices as of Aug 24, 2026, 10:37 AM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Heating Oil Futures to Wheat Futures ratio
1.000 Gal of heating oil futures = 0.006283 Oz of wheat futures
Inverse (ZW-FUT/HO-FUT): 159.2 — one Ounce of wheat futures buys that much heating oil futures.
Above its 1 year average. (75th percentile of the last 1 year)
Heating Oil Futures
$4.36
per Gallan
Wheat Futures
$693.90
per Ounce
Unit basis: USD per Gallan ÷ USD per Ounce. The ratio reads as Ounces of wheat futures per Gallan of heating oil futures. Prices as of Mon, 24 Aug 2026 10:37:57 GMT.
1Y average
0.005401
median 0.005384
1Y low
0.003940
Jan 7, 2026
1Y high
0.007919
Mar 20, 2026
Normal band
0.004418–0.006385
mean ± 1 std dev
Deviation from mean
+0.90σ
328 observations
Heating Oil Futures to Wheat Futures ratio charts
Pick a range once — it applies to the HO-FUT/ZW-FUT ratio line, the OHLC candles and the Heating Oil Futures / Wheat Futures price chart below.
HO-FUT/ZW-FUT ratio line
How many Oz of Wheat Futures one Gal of Heating Oil Futures buys, over 1Y.
HO-FUT/ZW-FUT ratio candles
Open, high, low and close of the HO-FUT/ZW-FUT ratio for each period in the last 1Y.
Heating Oil Futures and Wheat Futures prices
Both legs of the ratio on their own axes, so you can see which one moved over 1Y.
How to calculate the heating oil futures to wheat futures ratio
Heating Oil Futures to Wheat Futures ratio = Heating Oil Futures price per Gallan ÷ Wheat Futures price per Ounce
The two legs use different units, so the result is a rate — Ounces of wheat futures per Gallan of heating oil futures — rather than a plain count.
Worked example, live prices: $4.36 ÷ $693.90 = 0.006283. The inverse is 159.2.
The flagship commodity ratios
Each of these has its own dedicated page with live pricing, a full year of history and range statistics.
Live prices behind the ratio
| # | Symbol | Name | Rate (USD) |
|---|---|---|---|
| 1 | XAU | Gold | 4647.62 |
| 2 | XAG | Silver | 69.00 |
| 3 | WTIOIL-FUT | Crude Oil WTI Futures | 85.69 |
| 4 | BRENTOIL-FUT | Crude Oil Brent Futures | 92.75 |
| 5 | NG-FUT | Natural Gas Futures | 2.77 |
| 6 | PL | Platinum | 1885.63 |
| 7 | PA | Palladium | 1351.00 |
Frequently asked questions
What is the heating oil futures to wheat futures ratio today?
The heating oil futures to wheat futures ratio is 0.006283 — Heating Oil Futures at $4.36 per Gallan divided by Wheat Futures at $693.90 per Ounce, from live mid-market prices.
How do you calculate the heating oil futures to wheat futures ratio?
Divide the heating oil futures price per Gallan by the wheat futures price per Ounce. If the two units differ, the result is a rate rather than a plain count — read it as Ounces of wheat futures per Gallan of heating oil futures.
What is the inverse of the heating oil futures to wheat futures ratio?
The inverse, wheat futures to heating oil futures, is 159.2 — how many Gallans of heating oil futures one Ounce of wheat futures buys.