Commodity ratio · live

Wheat Futures to Milk Ratio

The wheat futures to milk ratio is 71761 Wheat Futures at $25,566.21 per kilogram divided by Milk at $0.3563 per kilogram.

Wheat futures is quoted per ounce and milk per hundredweight, 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, 12:59 AM UTC. Change either side of the calculator to price any other pair from 170+ commodities.

Ounce
ZW-FUT · USD per Ounce
MILK · USD per Hundredweight

Wheat Futures to Milk ratio

71761+51.75% / 1Y

1.000 kg of wheat futures = 71,761.4 kg of milk

Inverse (MILK/ZW-FUT): 0.00001394 — one kilogram of milk buys that much wheat futures.

Near the top of its 1 year range — historically stretched. (97th percentile of the last 1 year)

Wheat Futures

$25,566.21

per kilogram

Milk

$0.3563

per kilogram

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 00:59:21 GMT.

Prices on this page are delayed by up to 15 minutes. For real-time rates, use the CommodityPriceAPI.

Wheat futures is quoted per ounce and milk per hundredweight, so both are restated per kilogram first. Dividing the two quotes as published would be out by exactly that much.

1Y average

58126

median 57971

1Y low

45689

Sep 26, 2025

1Y high

75681

Sep 1, 2026

Normal band

51513–64740

mean ± 1 std dev

Deviation from mean

+2.06σ

170 observations

Wheat Futures to Milk ratio charts

Pick a range once — it applies to the ZW-FUT/MILK ratio line, the OHLC candles and the Wheat Futures / Milk price chart below.

ZW-FUT/MILK ratio line

How many kg of Milk one kg of Wheat Futures buys, over 1Y.

ZW-FUT/MILK ratio candles

Open, high, low and close of the ZW-FUT/MILK ratio for each period in the last 1Y.

Wheat Futures and Milk 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 milk ratio

Wheat Futures to Milk ratio = Wheat Futures price in USD per kilogram ÷ Milk 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.

Wheat futures is quoted per ounce and milk per hundredweight, so both are restated per kilogram first. Dividing the two quotes as published would be out by exactly that much.

Worked example, live prices: $25,566.21 per kilogram ÷ $0.3563 per kilogram = 71761. The inverse is 0.00001394.

Live prices behind the ratio

#SymbolNameRate (USD)
1XAUGold4347.67
2XAGSilver66.16
3WTIOIL-FUTCrude Oil WTI Futures93.07
4BRENTOIL-FUTCrude Oil Brent Futures101.30
5NG-FUTNatural Gas Futures2.85
6PLPlatinum1797.71
7PAPalladium1305.20

Frequently asked questions

What is the wheat futures to milk ratio today?

The wheat futures to milk ratio is 71761 — Wheat Futures at $25,566.21 per kilogram divided by Milk at $0.3563 per kilogram, from live mid-market prices. Both figures are US dollars per kilogram.

How do you calculate the wheat futures to milk ratio?

Divide the wheat futures price per kilogram by the milk 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 milk ratio?

The inverse, milk to wheat futures, is 0.00001394 — how many kilograms of wheat futures one kilogram of milk buys.