Commodity ratio · live
Magnesium to Wheat Futures Ratio
The magnesium to wheat futures ratio is 24.36 — Magnesium at $16,900.00 per Metric Ton divided by Wheat Futures at $693.90 per Ounce.
Prices as of Aug 24, 2026, 12:23 PM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Magnesium to Wheat Futures ratio
1.000 T of magnesium = 24.355 Oz of wheat futures
Inverse (ZW-FUT/MG): 0.04106 — one Ounce of wheat futures buys that much magnesium.
Near the bottom of its 1 year range — historically compressed. (1th percentile of the last 1 year)
Magnesium
¥16,900.00
per Metric Ton
Wheat Futures
$693.90
per Ounce
Unit basis: CNY per Metric Ton ÷ USD per Ounce. The ratio reads as Ounces of wheat futures per Metric Ton of magnesium. Prices as of Mon, 24 Aug 2026 12:23:42 GMT.
These two commodities are quoted in different currencies (CNY and USD). The figure above is a raw quote ratio and is not FX-adjusted.
1Y average
30.46
median 30.68
1Y low
23.57
Jul 22, 2026
1Y high
36.97
Aug 24, 2025
Normal band
27.57–33.34
mean ± 1 std dev
Deviation from mean
-2.11σ
323 observations
Magnesium to Wheat Futures ratio charts
Pick a range once — it applies to the MG/ZW-FUT ratio line, the OHLC candles and the Magnesium / Wheat Futures price chart below.
MG/ZW-FUT ratio line
How many Oz of Wheat Futures one T of Magnesium buys, over 1Y.
MG/ZW-FUT ratio candles
Open, high, low and close of the MG/ZW-FUT ratio for each period in the last 1Y.
Magnesium 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 magnesium to wheat futures ratio
Magnesium to Wheat Futures ratio = Magnesium price per Metric Ton ÷ Wheat Futures price per Ounce
The two legs use different units, so the result is a rate — Ounces of wheat futures per Metric Ton of magnesium — rather than a plain count.
Worked example, live prices: $16,900.00 ÷ $693.90 = 24.36. The inverse is 0.04106.
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 | 4655.18 |
| 2 | XAG | Silver | 69.27 |
| 3 | WTIOIL-FUT | Crude Oil WTI Futures | 85.69 |
| 4 | BRENTOIL-FUT | Crude Oil Brent Futures | 92.99 |
| 5 | NG-FUT | Natural Gas Futures | 2.81 |
| 6 | PL | Platinum | 1887.51 |
| 7 | PA | Palladium | 1353.70 |
Frequently asked questions
What is the magnesium to wheat futures ratio today?
The magnesium to wheat futures ratio is 24.36 — Magnesium at $16,900.00 per Metric Ton divided by Wheat Futures at $693.90 per Ounce, from live mid-market prices.
How do you calculate the magnesium to wheat futures ratio?
Divide the magnesium price per Metric Ton 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 Metric Ton of magnesium.
What is the inverse of the magnesium to wheat futures ratio?
The inverse, wheat futures to magnesium, is 0.04106 — how many Metric Tons of magnesium one Ounce of wheat futures buys.