Commodity ratio · live
Wheat Futures to Heating Oil Futures Ratio
The wheat futures to heating oil futures ratio is 147.8 — Wheat Futures at $722.81 per ounce divided by Heating Oil Futures at $4.89 per gallan.
Prices as of Sep 22, 2026, 1:49 AM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Wheat Futures to Heating Oil Futures ratio
1.000 Oz of wheat futures = 147.814 gal of heating oil futures
Inverse (HO-FUT/ZW-FUT): 0.006765 — one gallan of heating oil futures buys that much wheat futures.
Below its 1 year average. (11th percentile of the last 1 year)
Wheat Futures
$722.81
per ounce
Heating Oil Futures
$4.89
per gallan
Unit basis: USD per ounce ÷ USD per gallan. The two legs are priced per different things — dollars per ounce against dollars per gallan — so the result is a rate: gallans of heating oil futures per ounce of wheat futures, not a plain count. Prices as of Tue, 22 Sep 2026 01:49:33 GMT.
Prices on this page are delayed by up to 15 minutes. For real-time rates, use the CommodityPriceAPI.
1Y average
187.1
median 175.1
1Y low
126.3
Mar 19, 2026
1Y high
253.8
Jan 7, 2026
Normal band
153.1–221.0
mean ± 1 std dev
Deviation from mean
-1.16σ
171 observations
Wheat Futures to Heating Oil Futures ratio charts
Pick a range once — it applies to the ZW-FUT/HO-FUT ratio line, the OHLC candles and the Wheat Futures / Heating Oil Futures price chart below.
ZW-FUT/HO-FUT ratio line
How many gal of Heating Oil Futures one Oz of Wheat Futures buys, over 1Y.
ZW-FUT/HO-FUT ratio candles
Open, high, low and close of the ZW-FUT/HO-FUT ratio for each period in the last 1Y.
Wheat Futures and Heating Oil Futures prices
Both legs of the ratio on their own axes, so you can see which one moved over 1Y.
How to calculate the wheat futures to heating oil futures ratio
Wheat Futures to Heating Oil Futures ratio = Wheat Futures price in USD per ounce ÷ Heating Oil Futures price in USD per gallan
The two legs are priced per different things — dollars per ounce against dollars per gallan — so the result is a rate: gallans of heating oil futures per ounce of wheat futures, not a plain count.
Worked example, live prices: $722.81 per ounce ÷ $4.89 per gallan = 147.8. The inverse is 0.006765.
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 | 4328.71 |
| 2 | XAG | Silver | 65.58 |
| 3 | WTIOIL-FUT | Crude Oil WTI Futures | 89.77 |
| 4 | BRENTOIL-FUT | Crude Oil Brent Futures | 98.04 |
| 5 | NG-FUT | Natural Gas Futures | 2.83 |
| 6 | PL | Platinum | 1794.85 |
| 7 | PA | Palladium | 1299.20 |
Frequently asked questions
What is the wheat futures to heating oil futures ratio today?
The wheat futures to heating oil futures ratio is 147.8 — Wheat Futures at $722.81 per ounce divided by Heating Oil Futures at $4.89 per gallan, from live mid-market prices.
How do you calculate the wheat futures to heating oil futures ratio?
Divide the wheat futures price per ounce by the heating oil futures price per gallan. The two legs are priced per different things — dollars per ounce against dollars per gallan — so the result is a rate: gallans of heating oil futures per ounce of wheat futures, not a plain count.
What is the inverse of the wheat futures to heating oil futures ratio?
The inverse, heating oil futures to wheat futures, is 0.006765 — how many ounces of wheat futures one gallan of heating oil futures buys.