Commodity ratio · live
Wheat Futures to Magnesium Ratio
The wheat futures to magnesium ratio is 10085 — Wheat Futures at $25,364.10 per kilogram divided by Magnesium at $2.52 per kilogram.
Magnesium is quoted in CNY, so that leg is converted to US dollars at the live mid-market rate before dividing; wheat futures is quoted per ounce and magnesium per metric ton, so both are restated per kilogram first. Dividing the two quotes as published would be out by exactly that much.
Prices as of Sep 22, 2026, 12:40 PM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Wheat Futures to Magnesium ratio
1.000 kg of wheat futures = 10,084.9 kg of magnesium
Inverse (MG/ZW-FUT): 0.00009916 — one kilogram of magnesium buys that much wheat futures.
Wheat Futures
$25,364.10
per kilogram
Magnesium
$2.52
per kilogram
quoted CNY 16,850.00 per Metric Ton
Unit basis: USD per kilogram ÷ USD per kilogram. Both legs are priced in US dollars per kilogram, so the dollars and the kilograms cancel and the result is a plain unitless number. Prices as of Tue, 22 Sep 2026 12:40:58 GMT.
Prices on this page are delayed by up to 15 minutes. For real-time rates, use the CommodityPriceAPI.
Magnesium is quoted in CNY, so that leg is converted to US dollars at the live mid-market rate before dividing; wheat futures is quoted per ounce and magnesium per metric ton, so both are restated per kilogram first. Dividing the two quotes as published would be out by exactly that much.
The chart and range statistics need a daily CNY to US dollar rate to put both legs on one currency across the year. That rate is unavailable right now, so only the live ratio is published — an old price converted at today's rate would draw currency moves as commodity moves.
Wheat Futures to Magnesium ratio charts
Pick a range once — it applies to the ZW-FUT/MG ratio line, the OHLC candles and the Wheat Futures / Magnesium price chart below.
ZW-FUT/MG ratio line
How many kg of Magnesium one kg of Wheat Futures buys, over 1Y.
The chart and range statistics need a daily CNY to US dollar rate to put both legs on one currency across the year. That rate is unavailable right now, so only the live ratio is published — an old price converted at today's rate would draw currency moves as commodity moves.
ZW-FUT/MG ratio candles
Open, high, low and close of the ZW-FUT/MG ratio for each period in the last 1Y.
The chart and range statistics need a daily CNY to US dollar rate to put both legs on one currency across the year. That rate is unavailable right now, so only the live ratio is published — an old price converted at today's rate would draw currency moves as commodity moves.
Wheat Futures and Magnesium prices
Both legs of the ratio on their own axes, so you can see which one moved over 1Y.
The chart and range statistics need a daily CNY to US dollar rate to put both legs on one currency across the year. That rate is unavailable right now, so only the live ratio is published — an old price converted at today's rate would draw currency moves as commodity moves.
How to calculate the wheat futures to magnesium ratio
Wheat Futures to Magnesium ratio = Wheat Futures price in USD per kilogram ÷ Magnesium price in USD per kilogram
Both legs are priced in US dollars per kilogram, so the dollars and the kilograms cancel and the result is a plain unitless number.
Magnesium is quoted in CNY, so that leg is converted to US dollars at the live mid-market rate before dividing; wheat futures is quoted per ounce and magnesium per metric ton, so both are restated per kilogram first. Dividing the two quotes as published would be out by exactly that much.
Worked example, live prices: $25,364.10 per kilogram ÷ $2.52 per kilogram = 10085. The inverse is 0.00009916.
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 | 4324.40 |
| 2 | XAG | Silver | 65.64 |
| 3 | WTIOIL-FUT | Crude Oil WTI Futures | 90.89 |
| 4 | BRENTOIL-FUT | Crude Oil Brent Futures | 99.63 |
| 5 | NG-FUT | Natural Gas Futures | 2.91 |
| 6 | PL | 1822.39 | |
| 7 | PA | 1303.20 |
Frequently asked questions
What is the wheat futures to magnesium ratio today?
The wheat futures to magnesium ratio is 10085 — Wheat Futures at $25,364.10 per kilogram divided by Magnesium at $2.52 per kilogram, from live mid-market prices. Both figures are US dollars per kilogram, converted at the live mid-market FX rate.
How do you calculate the wheat futures to magnesium ratio?
Divide the wheat futures price per kilogram by the magnesium price per kilogram. Both legs are priced in US dollars per kilogram, so the dollars and the kilograms cancel and the result is a plain unitless number.
What is the inverse of the wheat futures to magnesium ratio?
The inverse, magnesium to wheat futures, is 0.00009916 — how many kilograms of wheat futures one kilogram of magnesium buys.