It was the very first grain to be domesticated; it is the 3rd most popular grain in the world and the one that takes up the most space to grow.
It has multiple uses, though most of us consider only one major use, in can be grown in multiple climates and has been known throughout history as main trade component between cities, nations and continents.
And if you trade wisely, wheat binary options can be the next commodity to help you gain some added profits.
The exact opinion as to when humans started cultivating wheat differ slightly, with some dating it around 7,500 BC and other going further back to 8,800 BC and even further, but most researchers agree that the location was around southern Turkey or the northern parts of Iran, with exceptions made for certain regions of Syria, early trade brought it to Egypt, Cyprus, Greece and India where local crops began creating the first different strains of wheat.
Egyptians are thought to be the first people to grow a strain of wheat that could be suitable to make bread and the first to use some form of industrial creation of food with wheat products.
At the same time, Wheat had made its way across Europe and into England and Scandinavia, the English are thought to be among the first to find an application for wheat straw which was discarded up to that point, using it for roofing of houses, a practice that remained in use as recently as the 19th century in some places.
Advances in technology throughout the centuries made cultivating the ground for repeated planting easier, and the separation of grain from stock a far easier task which in turn, made the entire process more worthwhile.
These days, wheat has a variety of applications within the food industry – from the most obvious breads and biscuits through various kinds of pastas, porridges and pancakes up to cereal; it is also used in a variety of drinks, primarily beer
As its uses grew, so did consumption and in recent years that consumption reached an astounding average of 67 kg per person per year, so it is quite easy to see why wheat remains such a popular growth, despite its declining worth (when compared to other potential crops such as corn).
Current production levels reach around 650 million tons per year, but the amount varies as certain productive areas can become susceptible to poor weather that can impact supply.
Indeed, weather remains a great factor despite advances in genetic engineering of wheat, demand for wheat remains quite similar over the past few decades, but supply can fluctuate wildly, as it did in 2007 when cold weather and floods in the northern hemisphere combined with a severe drought in Australia to create a price level which had never previously been seen (or has been seen since).
As supply and demand seem to be the primary factors is wheat trade prices, make sure you pay close attention to any information regarding those areas when trading in wheat binary options, and if you do so wisely you could have bread, or cake if you so choose.