# U.S. grains: Wheat hits seven-month high on crop ratings - Grainews

> US wheat prices rose to about seven-month highs after USDA data showed Kansas wheat only 12 per cent good to excellent, with ratings also falling in several other states. Drought covers over 70 per cent of Kansas and all of Oklahoma. Soymeal futures also reached life-of-contract highs on scant Argentine rainfall.

- Date: 2018-02-27 · published 2018-02-27T12:00:00.000Z
- Category: weather · region US · magnitude high
- Page: https://feedsoft.ai/events/12433-u-s-grains-wheat-hits-seven-month-high-on-crop-ratings-grainews
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Poor US crop ratings signal lower HRW output and tighter supply, supporting wheat prices. Argentine dryness threatens soymeal supply, a key protein for feed, which pushes meal prices higher.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2019-05-30 | [U.S. grains: Wheat, corn, soy rally on weather woes - Grainews](https://feedsoft.ai/events/9307-u-s-grains-wheat-corn-soy-rally-on-weather-woes-grainews.md) | +9.6% | +16.2% |
| WHEAT | 2024-05-04 | [Corn hits 3-month high; soy, wheat climb on global crop weather woes](https://feedsoft.ai/events/6453-corn-hits-3-month-high-soy-wheat-climb-on-global-crop-weather-woes.md) | +2.2% | +13.7% |
| WHEAT | 2019-05-17 | [U.S. grains: Corn extends rally, wheat touches six-week high - Grainews](https://feedsoft.ai/events/5631-u-s-grains-corn-extends-rally-wheat-touches-six-week-high-grainews.md) | +9.7% | +9.5% |
| 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 | 2022-05-26 | [U.S. grains: Rainy forecast pushes soy to three-month high - Grainews](https://feedsoft.ai/events/41426-u-s-grains-rainy-forecast-pushes-soy-to-three-month-high-grainews.md) | -1.9% | -2.9% |
| SOY | 2019-05-30 | [U.S. grains: Wheat, corn, soy rally on weather woes - Grainews](https://feedsoft.ai/events/9307-u-s-grains-wheat-corn-soy-rally-on-weather-woes-grainews.md) | -0.3% | +2.6% |
| SOY | 2024-05-04 | [Corn hits 3-month high; soy, wheat climb on global crop weather woes](https://feedsoft.ai/events/6453-corn-hits-3-month-high-soy-wheat-climb-on-global-crop-weather-woes.md) | +0.3% | -1.4% |
| SOY | 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) | -4.2% | -1.3% |

## Sources

- agcanada.com: https://www.agcanada.com/daily/u-s-grains-wheat-hits-seven-month-high-on-crop-ratings
- grainews.ca: https://www.grainews.ca/daily/u-s-grains-wheat-hits-seven-month-high-on-crop-ratings/

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