Wheat (ZW-F)
Commodities · Grains · data since 2000-07-17 · last close 2026-09-09
Wheat (ZW-F) monthly returns (%)
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 6.1 | 9.9 | 4.2 | 1.2 | -2.1 | -4.9 | 10.1 | 18.3 | -3.8 | · | · | · |
| 2025 | 1.4 | -4.0 | 0.0 | -4.5 | 4.1 | -1.0 | -1.0 | -1.0 | -1.9 | 5.1 | -0.6 | -4.5 |
| 2024 | -5.2 | -3.0 | -3.0 | 4.4 | 16.0 | -18.4 | -4.7 | 1.0 | 9.6 | -2.3 | -6.7 | 3.6 |
| 2023 | -3.9 | -9.2 | 0.1 | -10.5 | -4.1 | 7.1 | 4.6 | -13.9 | -5.5 | 2.7 | 2.5 | 10.1 |
| 2022 | -1.2 | 21.9 | 8.4 | 3.8 | 4.2 | -20.1 | -7.0 | 0.1 | 13.9 | -4.3 | -12.6 | 2.7 |
| 2021 | 3.5 | -1.2 | -5.7 | 20.1 | -10.6 | 1.2 | 4.8 | 0.4 | 2.6 | 6.5 | 0.1 | -0.4 |
| 2020 | -0.9 | -4.5 | 7.5 | -6.9 | -1.7 | -5.9 | 8.4 | 2.5 | 6.2 | 3.5 | -3.0 | 10.4 |
| 2019 | 2.6 | -12.4 | 1.2 | -8.6 | 20.2 | 5.0 | -7.7 | -7.4 | 9.9 | 2.6 | 7.6 | 2.0 |
| 2018 | 5.8 | 7.3 | -6.9 | 13.6 | 2.7 | -5.5 | 11.3 | -6.4 | -1.8 | -1.7 | 3.0 | -2.4 |
| 2017 | 3.1 | 0.9 | 0.4 | -1.9 | 2.6 | 19.0 | -7.1 | -13.5 | 9.3 | -6.6 | -2.2 | 4.3 |
| 2016 | 2.0 | -7.2 | 6.4 | 0.9 | -2.8 | -7.2 | -5.5 | -11.5 | 11.4 | 3.5 | -8.6 | 7.2 |
| 2015 | -14.8 | 2.9 | -1.1 | -8.7 | 2.1 | 28.9 | -18.8 | -3.4 | 6.3 | 1.8 | -11.9 | 2.2 |
| 2014 | -8.2 | 7.8 | 16.4 | 2.3 | -12.0 | -10.0 | -6.1 | 3.8 | -13.2 | 11.5 | 8.4 | 2.2 |
| 2013 | 0.2 | -9.2 | -2.8 | 4.9 | -2.3 | -8.1 | 2.4 | -3.2 | 5.5 | -1.6 | -1.9 | -7.6 |
| 2012 | 2.0 | -0.3 | -0.5 | -2.0 | -0.6 | 14.8 | 20.2 | -2.0 | 3.7 | -4.2 | -2.3 | -7.9 |
| 2011 | 5.8 | -6.9 | -2.5 | 0.8 | 1.7 | -25.3 | 15.0 | 10.8 | -18.3 | 3.1 | -5.2 | 9.6 |
| 2010 | -12.5 | 6.9 | -11.1 | 9.2 | -6.9 | 1.5 | 42.3 | -1.4 | 3.3 | 6.4 | -9.3 | 22.1 |
| 2009 | -7.0 | -10.1 | 4.4 | -1.6 | 21.6 | -19.8 | 3.3 | -10.8 | -2.9 | 8.0 | 14.8 | -4.6 |
| 2008 | 5.0 | 15.4 | -13.4 | -15.3 | -3.3 | 10.8 | -7.1 | -0.6 | -12.7 | -21.1 | 1.2 | 12.6 |
| 2007 | -6.7 | 1.5 | -7.7 | 10.8 | 6.5 | 12.6 | 8.3 | 21.8 | 22.4 | -13.9 | 7.3 | 2.1 |
| 2006 | 1.2 | 7.9 | -6.1 | -0.4 | 13.7 | -5.6 | 7.0 | 1.6 | 9.7 | 9.0 | 3.9 | -0.2 |
| 2005 | -5.4 | 15.9 | -1.9 | -3.9 | 4.3 | -3.1 | 1.9 | -8.0 | 14.8 | -8.4 | -4.1 | 11.6 |
| 2004 | 3.2 | -2.1 | 7.2 | -6.5 | -5.1 | -6.6 | -7.6 | -0.8 | -1.0 | 3.2 | -8.4 | 6.1 |
| 2003 | -1.4 | -2.5 | -8.2 | -2.5 | 16.0 | -6.9 | 15.5 | 5.5 | -2.0 | 2.6 | 10.1 | -7.3 |
| 2002 | -1.6 | -5.2 | 8.5 | -11.1 | 7.8 | 8.8 | 8.8 | 8.5 | 9.4 | 1.4 | -7.3 | -12.9 |
| 2001 | -0.6 | -5.0 | 2.9 | 0.3 | -0.4 | -7.5 | 12.4 | -0.3 | 0.3 | 7.4 | -5.8 | 4.7 |
| 2000 | · | · | · | · | · | · | 0.8 | 2.0 | 2.8 | -1.7 | -0.4 | 8.0 |
| Avg | -1.0 | 0.6 | -0.1 | -0.5 | 2.7 | -1.8 | 3.9 | -0.3 | 2.9 | 0.5 | -1.2 | 2.8 |
Values in %. Current and first-listed months are partial (greyed).
returnsview.com
ZW-F seasonality — average by calendar month
Wheat has monthly history back to 2000. Its strongest month by median is September — positive in 17 of 26 years, median +3.5%, and higher in 6 of the last 9. June is the soft spot, down in 16 of 26 with a median of -5.2%. Across its full record it has closed 51% of months higher, swings ±8.8% in an average month and has fallen 71.8% peak to trough.
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Avg | -1.1% | +0.6% | -0.1% | -0.5% | +2.8% | -1.8% | +3.9% | -0.3% | +3.1% | +0.5% | -1.2% | +2.8% |
| Win rate | 50%/26 | 42%/26 | 46%/26 | 46%/26 | 54%/26 | 38%/26 | 63%/27 | 44%/27 | 65%/26 | 62%/26 | 38%/26 | 65%/26 |
Win rate = share of positive months / sample size.
ZW-F risk & extremes
ZW-F drawdown & rolling returns
Percent below the all-time high at each month-end — how far underwater the asset was.
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Frequently asked questions
What was Wheat's best month?+
Wheat's strongest completed month on record is July 2010, at +42.33%.
What was Wheat's worst month?+
Its weakest completed month on record is June 2011, at -25.25%.
Is Wheat up this year?+
Wheat is up 43.54% year to date, measured from its last close before 1 January.
What is Wheat's 1-year return?+
+45.33% over the past twelve months, comparing the latest close with the most recent close on or before the same date a year earlier.
What is Wheat's biggest drawdown?+
The deepest peak-to-trough fall on record is 71.8%, measured on month-end closes since 2000.
Which calendar month is historically best for Wheat?+
July has the highest average return across every completed July since 2000. An average is not a forecast.
About Wheat
Wheat is a grains business. Tracked here from its first session onward — every monthly, quarterly and weekly return on record since 2000, with no gaps filled in and nothing smoothed. And the long game: $100 at its first close here (2000) would be about $308 today.
Did you know?
- Its best month on record was July 2010 at +42.33%; its worst, June 2011 at -25.25%.
Trivia for entertainment — the numbers come from our price data; the jokes don't.