# Impressive rally for US wheat | VIC

> CBOT wheat posted a 51.25 cent per bushel weekly gain driven by drought in US hard red winter wheat areas, a cold snap across Russia, Ukraine and Europe, and fund buying. Prices took back above 500 cents per bushel before profit-taking pulled them lower on Friday.

- Date: 2018-03-07 · published 2018-03-07T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/12432-impressive-rally-for-us-wheat-vic
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Combined drought and cold-weather risk to crops, plus fund buying, support wheat prices and raise input costs for feed buyers who rely on wheat. The rally is strong compared with recent years.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2018-07-31 | [Sharp rally for wheat futures \| VIC](https://feedsoft.ai/events/64074-sharp-rally-for-wheat-futures-vic.md) | +4.1% | +1.3% |
| 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 | 2018-05-18 | [GRAINS-U.S. wheat futures rally; corn, soy firm on hopes for export deal](https://feedsoft.ai/events/10916-grains-u-s-wheat-futures-rally-corn-soy-firm-on-hopes-for-export-deal.md) | +4.1% | +2.4% |
| WHEAT | 2018-05-23 | [CBOT wheat futures rally on technical buying](https://feedsoft.ai/events/10918-cbot-wheat-futures-rally-on-technical-buying.md) | -0.0% | -2.3% |
| WHEAT | 2018-02-06 | [US crop worries supports wheat prices \| VIC](https://feedsoft.ai/events/66543-us-crop-worries-supports-wheat-prices-vic.md) | +0.6% | +2.4% |
| KWHEAT | 2018-07-31 | [Sharp rally for wheat futures \| VIC](https://feedsoft.ai/events/64074-sharp-rally-for-wheat-futures-vic.md) | +7.0% | -8.4% |
| KWHEAT | 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) | -4.5% | -4.3% |
| KWHEAT | 2018-05-18 | [GRAINS-U.S. wheat futures rally; corn, soy firm on hopes for export deal](https://feedsoft.ai/events/10916-grains-u-s-wheat-futures-rally-corn-soy-firm-on-hopes-for-export-deal.md) | +5.8% | +0.1% |

## Sources

- stockandland.com.au: https://www.stockandland.com.au/story/5263968/impressive-rally-for-us-wheat/

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