Commodity ratio · live
Milk to Wheat Futures Ratio
The milk to wheat futures ratio is 0.02395 — Milk at $16.63 per Hundredweight divided by Wheat Futures at $694.43 per Ounce.
Prices as of Aug 24, 2026, 11:17 AM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Milk to Wheat Futures ratio
1.000 Cwt of milk = 0.02395 Oz of wheat futures
Inverse (ZW-FUT/MILK): 41.76 — one Ounce of wheat futures buys that much milk.
Near the bottom of its 1 year range — historically compressed. (5th percentile of the last 1 year)
Milk
$16.63
per Hundredweight
Wheat Futures
$694.43
per Ounce
Unit basis: USD per Hundredweight ÷ USD per Ounce. The ratio reads as Ounces of wheat futures per Hundredweight of milk. Prices as of Mon, 24 Aug 2026 11:17:06 GMT.
1Y average
0.02861
median 0.02787
1Y low
0.02219
Jul 22, 2026
1Y high
0.03626
Aug 31, 2025
Normal band
0.02560–0.03161
mean ± 1 std dev
Deviation from mean
-1.55σ
327 observations
Milk to Wheat Futures ratio charts
Pick a range once — it applies to the MILK/ZW-FUT ratio line, the OHLC candles and the Milk / Wheat Futures price chart below.
MILK/ZW-FUT ratio line
How many Oz of Wheat Futures one Cwt of Milk buys, over 1Y.
MILK/ZW-FUT ratio candles
Open, high, low and close of the MILK/ZW-FUT ratio for each period in the last 1Y.
Milk 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 milk to wheat futures ratio
Milk to Wheat Futures ratio = Milk price per Hundredweight ÷ Wheat Futures price per Ounce
The two legs use different units, so the result is a rate — Ounces of wheat futures per Hundredweight of milk — rather than a plain count.
Worked example, live prices: $16.63 ÷ $694.43 = 0.02395. The inverse is 41.76.
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 | 4640.70 |
| 2 | XAG | Silver | 68.90 |
| 3 | WTIOIL-FUT | Crude Oil WTI Futures | 85.69 |
| 4 | BRENTOIL-FUT | Crude Oil Brent Futures | 92.88 |
| 5 | NG-FUT | Natural Gas Futures | 2.78 |
| 6 | PL | Platinum | 1883.84 |
| 7 | PA | Palladium | 1350.90 |
Frequently asked questions
What is the milk to wheat futures ratio today?
The milk to wheat futures ratio is 0.02395 — Milk at $16.63 per Hundredweight divided by Wheat Futures at $694.43 per Ounce, from live mid-market prices.
How do you calculate the milk to wheat futures ratio?
Divide the milk price per Hundredweight 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 Hundredweight of milk.
What is the inverse of the milk to wheat futures ratio?
The inverse, wheat futures to milk, is 41.76 — how many Hundredweights of milk one Ounce of wheat futures buys.