# U.S. grains: Wheat futures surge as supplies drop to 14-year low - Grainews

> Chicago wheat futures surged after USDA reported US wheat supplies at their lowest since 2007 and the smallest harvest in 19 years. Soybeans fell sharply after the Sept. 1 stocks figure came in above trade expectations.

- Date: 2021-09-30 · published 2021-09-30T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/11320-u-s-grains-wheat-futures-surge-as-supplies-drop-to-14-year-low-grainews
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

The tightest US wheat supply in over a decade raises costs for millers and feed users and supports wheat prices broadly. The bearish soybean stocks surprise shows the same report pushed soy lower.

## Read by commodity

- SOY: bearish ▼
- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2021-10-04 | 1 | +3.1% | 3.2 | USDA reporting US wheat supplies at a 14-year low and the smallest harvest in 19 years tightened supply expectations and triggered a surge in Chicago wheat futures, a key driver heading into the Oct 4 move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-05-12 | [Tightening US and World Wheat Supplies Send Wheat Futures Prices to Near Limit Gains](https://feedsoft.ai/events/41347-tightening-us-and-world-wheat-supplies-send-wheat-futures-prices-to-near-limit.md) | +5.9% | +0.7% |
| WHEAT | 2019-02-18 | [Australian wheat production falls to 11-year low as drought bites](https://feedsoft.ai/events/60572-australian-wheat-production-falls-to-11-year-low-as-drought-bites.md) | -1.6% | -3.4% |
| WHEAT | 2018-06-12 | [U.S. grains: Wheat surges after USDA cuts Russian output estimate - Grainews](https://feedsoft.ai/events/64555-u-s-grains-wheat-surges-after-usda-cuts-russian-output-estimate-grainews.md) | -0.9% | -6.9% |
| WHEAT | 2017-01-12 | [U.S. farmers cut winter wheat acres to 108-year low - Manitoba Co-operator](https://feedsoft.ai/events/72943-u-s-farmers-cut-winter-wheat-acres-to-108-year-low-manitoba-co-operator.md) | +0.9% | +5.3% |
| WHEAT | 2024-04-19 | [Feature: India's wheat stocks hit 16-year low as record sales, free distribution raise supply concerns](https://feedsoft.ai/events/30692-feature-india-s-wheat-stocks-hit-16-year-low-as-record-sales-free-distribution.md) | +0.8% | +2.3% |
| KWHEAT | 2022-05-12 | [Tightening US and World Wheat Supplies Send Wheat Futures Prices to Near Limit Gains](https://feedsoft.ai/events/41347-tightening-us-and-world-wheat-supplies-send-wheat-futures-prices-to-near-limit.md) | +11.7% | -2.7% |
| KWHEAT | 2018-06-12 | [U.S. grains: Wheat surges after USDA cuts Russian output estimate - Grainews](https://feedsoft.ai/events/64555-u-s-grains-wheat-surges-after-usda-cuts-russian-output-estimate-grainews.md) | -6.6% | -9.5% |
| KWHEAT | 2017-01-12 | [U.S. farmers cut winter wheat acres to 108-year low - Manitoba Co-operator](https://feedsoft.ai/events/72943-u-s-farmers-cut-winter-wheat-acres-to-108-year-low-manitoba-co-operator.md) | +2.4% | +4.5% |

## Sources

- grainews.ca: https://www.grainews.ca/daily/u-s-grains-wheat-futures-surge-as-supplies-drop-to-14-year-low/

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