# Wheat poised for biggest weekly rise in 2 years on supply fears - Markets - Business Recorder

> Chicago wheat eased on Friday but was headed for its biggest weekly gain in two years as dry weather in Russia and the US threatened supplies. The European Commission cut its EU wheat crop forecast for 2024/25, and corn was on track for its biggest weekly rise in 11 months.

- Date: 2024-04-26 · published 2024-04-26T12:00:00.000Z
- Category: weather · region Global · magnitude medium
- Page: https://feedsoft.ai/events/12142-wheat-poised-for-biggest-weekly-rise-in-2-years-on-supply-fears-markets
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Dryness in Russia and the US and an EU crop cut tighten global wheat supplies, supporting prices and feed grain values, though limited rainfall relief is in the forecast.

## Read by commodity

- SOY: neutral
- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-10-26 | [Paris wheat at highest since 2008 as tight supply in focus - Markets - Business Recorder](https://feedsoft.ai/events/44580-paris-wheat-at-highest-since-2008-as-tight-supply-in-focus-markets-business.md) | +10.4% | +9.4% |
| WHEAT | 2024-09-27 | [Wheat falls on demand worries, but set for weekly gain - Markets - Business Recorder](https://feedsoft.ai/events/28348-wheat-falls-on-demand-worries-but-set-for-weekly-gain-markets-business-recorder.md) | +0.9% | -6.0% |
| WHEAT | 2021-02-16 | [Wheat at one-week high as freezing US weather in focus - Markets - Business Recorder](https://feedsoft.ai/events/9253-wheat-at-one-week-high-as-freezing-us-weather-in-focus-markets-business-recorder.md) | +1.3% | +0.2% |
| WHEAT | 2021-04-09 | [CBOT wheat futures rise on European cold snap - Markets - Business Recorder](https://feedsoft.ai/events/47638-cbot-wheat-futures-rise-on-european-cold-snap-markets-business-recorder.md) | -3.6% | -1.4% |
| WHEAT | 2021-09-14 | [Paris wheat and rapeseed rally on Canada crop forecasts - Markets - Business Recorder](https://feedsoft.ai/events/45015-paris-wheat-and-rapeseed-rally-on-canada-crop-forecasts-markets-business.md) | -3.3% | +4.8% |
| CORN | 2021-10-26 | [Paris wheat at highest since 2008 as tight supply in focus - Markets - Business Recorder](https://feedsoft.ai/events/44580-paris-wheat-at-highest-since-2008-as-tight-supply-in-focus-markets-business.md) | +8.0% | +9.6% |
| CORN | 2021-02-16 | [Wheat at one-week high as freezing US weather in focus - Markets - Business Recorder](https://feedsoft.ai/events/9253-wheat-at-one-week-high-as-freezing-us-weather-in-focus-markets-business-recorder.md) | +1.5% | -3.8% |
| CORN | 2024-09-23 | [Chicago wheat rises on global crop concern - Markets - Business Recorder](https://feedsoft.ai/events/5608-chicago-wheat-rises-on-global-crop-concern-markets-business-recorder.md) | +1.3% | -0.8% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40300426

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