Commodity ratio · live
Wheat Futures to Magnesium Ratio
The wheat futures to magnesium ratio is 0.04106 — Wheat Futures at $693.90 per Ounce divided by Magnesium at $16,900.00 per Metric Ton.
Prices as of Aug 24, 2026, 12:23 PM UTC. Change either side of the calculator to price any other pair from 170+ commodities.
Wheat Futures to Magnesium ratio
1.000 Oz of wheat futures = 0.04106 T of magnesium
Inverse (MG/ZW-FUT): 24.36 — one Metric Ton of magnesium buys that much wheat futures.
Near the top of its 1 year range — historically stretched. (99th percentile of the last 1 year)
Wheat Futures
$693.90
per Ounce
Magnesium
¥16,900.00
per Metric Ton
Unit basis: USD per Ounce ÷ CNY per Metric Ton. The ratio reads as Metric Tons of magnesium per Ounce of wheat futures. Prices as of Mon, 24 Aug 2026 12:23:42 GMT.
These two commodities are quoted in different currencies (USD and CNY). The figure above is a raw quote ratio and is not FX-adjusted.
1Y average
0.03314
median 0.03260
1Y low
0.02705
Aug 24, 2025
1Y high
0.04242
Jul 22, 2026
Normal band
0.02984–0.03645
mean ± 1 std dev
Deviation from mean
+2.39σ
323 observations
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 T of Magnesium one Oz of Wheat Futures buys, over 1Y.
ZW-FUT/MG ratio candles
Open, high, low and close of the ZW-FUT/MG ratio for each period in the last 1Y.
Wheat Futures and Magnesium 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 magnesium ratio
Wheat Futures to Magnesium ratio = Wheat Futures price per Ounce ÷ Magnesium price per Metric Ton
The two legs use different units, so the result is a rate — Metric Tons of magnesium per Ounce of wheat futures — rather than a plain count.
Worked example, live prices: $693.90 ÷ $16,900.00 = 0.04106. The inverse is 24.36.
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 wheat futures to magnesium ratio today?
The wheat futures to magnesium ratio is 0.04106 — Wheat Futures at $693.90 per Ounce divided by Magnesium at $16,900.00 per Metric Ton, from live mid-market prices.
How do you calculate the wheat futures to magnesium ratio?
Divide the wheat futures price per Ounce by the magnesium price per Metric Ton. If the two units differ, the result is a rate rather than a plain count — read it as Metric Tons of magnesium per Ounce of wheat futures.
What is the inverse of the wheat futures to magnesium ratio?
The inverse, magnesium to wheat futures, is 24.36 — how many Ounces of wheat futures one Metric Ton of magnesium buys.