# Wheat market hits highest levels since July on weather concerns | Farm Online | ACT

> Chicago July wheat futures reached 694 cents a bushel, a ten-month high, on concerns about Russian production and wet weather in other key producing regions. Western Australia faces dry conditions, and rain in France is also being monitored as a competitor for wheat and barley into China.

- Date: 2024-05-14 · published 2024-05-14T12:00:00.000Z
- Category: weather · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/10913-wheat-market-hits-highest-levels-since-july-on-weather-concerns-farm-online-act
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

Russian crop damage and dryness in Australia and Western Australia support global wheat values and could tighten barley supply for feed buyers. Wet weather in France is a competing supply factor to monitor.

## Read by commodity

- WHEAT: bullish ▲
- BARLEY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2017-05-02 | [Massive US storm impacts wheat markets \| Farm Online \| ACT](https://feedsoft.ai/events/6138-massive-us-storm-impacts-wheat-markets-farm-online-act.md) | -2.3% | -1.4% |
| WHEAT | 2019-06-17 | [Wet weather in US pushes up wheat futures \| Farm Online \| ACT](https://feedsoft.ai/events/58618-wet-weather-in-us-pushes-up-wheat-futures-farm-online-act.md) | -6.1% | -8.7% |
| WHEAT | 2023-06-22 | [U.S. grains: Soy, corn, wheat rally to multi-month highs on weather concerns \| Farmtario](https://feedsoft.ai/events/35545-u-s-grains-soy-corn-wheat-rally-to-multi-month-highs-on-weather-concerns.md) | +7.6% | -0.3% |
| WHEAT | 2018-04-27 | [Farming News - Weather impacting on the Wheat Markets](https://feedsoft.ai/events/11223-farming-news-weather-impacting-on-the-wheat-markets.md) | +3.6% | +2.9% |
| WHEAT | 2019-12-15 | [Wheat crop size under pressure \| Farm Online \| ACT](https://feedsoft.ai/events/55532-wheat-crop-size-under-pressure-farm-online-act.md) | +2.0% | +4.8% |

## Sources

- farmonline.com.au: https://www.farmonline.com.au/story/8628738/wheat-market-hits-highest-levels-since-july-on-weather-concerns/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.