Commodity ratio · live
Soybean Meal to Wheat Futures Ratio
The soybean meal to wheat futures ratio is 0.4722 — Soybean Meal at $328.36 per Bushel divided by Wheat Futures at $695.34 per Ounce.
Prices as of Aug 24, 2026, 12:00 PM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Soybean Meal to Wheat Futures ratio
1.000 Bu of soybean meal = 0.4722 Oz of wheat futures
Inverse (ZW-FUT/ZM): 2.118 — one Ounce of wheat futures buys that much soybean meal.
Near the bottom of its 1 year range — historically compressed. (2th percentile of the last 1 year)
Soybean Meal
$328.36
per Bushel
Wheat Futures
$695.34
per Ounce
Unit basis: USD per Bushel ÷ USD per Ounce. The ratio reads as Ounces of wheat futures per Bushel of soybean meal. Prices as of Mon, 24 Aug 2026 12:00:29 GMT.
1Y average
0.5431
median 0.5452
1Y low
0.4609
Jul 22, 2026
1Y high
0.6328
Nov 14, 2025
Normal band
0.5064–0.5798
mean ± 1 std dev
Deviation from mean
-1.93σ
241 observations
Soybean Meal to Wheat Futures ratio charts
Pick a range once — it applies to the ZM/ZW-FUT ratio line, the OHLC candles and the Soybean Meal / Wheat Futures price chart below.
ZM/ZW-FUT ratio line
How many Oz of Wheat Futures one Bu of Soybean Meal buys, over 1Y.
ZM/ZW-FUT ratio candles
Open, high, low and close of the ZM/ZW-FUT ratio for each period in the last 1Y.
Soybean Meal 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 soybean meal to wheat futures ratio
Soybean Meal to Wheat Futures ratio = Soybean Meal price per Bushel ÷ Wheat Futures price per Ounce
The two legs use different units, so the result is a rate — Ounces of wheat futures per Bushel of soybean meal — rather than a plain count.
Worked example, live prices: $328.36 ÷ $695.34 = 0.4722. The inverse is 2.118.
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 soybean meal to wheat futures ratio today?
The soybean meal to wheat futures ratio is 0.4722 — Soybean Meal at $328.36 per Bushel divided by Wheat Futures at $695.34 per Ounce, from live mid-market prices.
How do you calculate the soybean meal to wheat futures ratio?
Divide the soybean meal price per Bushel 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 Bushel of soybean meal.
What is the inverse of the soybean meal to wheat futures ratio?
The inverse, wheat futures to soybean meal, is 2.118 — how many Bushels of soybean meal one Ounce of wheat futures buys.