# Australia, Argentina wheat harvest have high potential to impact U.S. wheat prices

> Australia and Argentina produce about 6% of world wheat but are projected to export 15% of world wheat exports, and their harvests are the most likely to influence US wheat prices. The August WASDE projects a 2024/25 US average farm price of $5.70/bu, while current cash prices in Oklahoma and Texas are well below that level.

- Date: 2024-08-21 · published 2024-08-21T12:00:00.000Z
- Category: trade · region US · magnitude low
- Page: https://feedsoft.ai/events/28851-australia-argentina-wheat-harvest-have-high-potential-to-impact-u-s-wheat-prices
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Southern Hemisphere supply will compete directly with US HRW exports in the fall, so a large Australian or Argentine crop would add downward pressure on US wheat values.

## Read by commodity

- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-08-05 | [Australia: China missed as wheat harvest nears: AGIC](https://feedsoft.ai/events/28740-australia-china-missed-as-wheat-harvest-nears-agic.md) | +4.7% | -2.4% |
| WHEAT | 2020-10-24 | [East coast wheat harvest signals an end to Western Australian grain imports - ABC News](https://feedsoft.ai/events/50603-east-coast-wheat-harvest-signals-an-end-to-western-australian-grain-imports-abc.md) | -0.9% | -5.0% |
| WHEAT | 2019-08-20 | [‘You Have To Remain An Optimist.’ Northwest Farmers Wrap Wheat Harvest As Prices Depress \| Northwest News Network](https://feedsoft.ai/events/57623-you-have-to-remain-an-optimist-northwest-farmers-wrap-wheat-harvest-as-prices.md) | +2.0% | +0.3% |
| WHEAT | 2018-01-11 | [Dust settles on the wheat harvest, focus switches to demand - Grain Central](https://feedsoft.ai/events/66947-dust-settles-on-the-wheat-harvest-focus-switches-to-demand-grain-central.md) | -0.4% | +6.0% |
| WHEAT | 2019-07-04 | [Australian Agriculture Sector Likely To Get Impacted From The U.S-China Trade Truce](https://feedsoft.ai/events/58043-australian-agriculture-sector-likely-to-get-impacted-from-the-u-s-china-trade.md) | -1.2% | -4.3% |
| KWHEAT | 2019-12-05 | [After a speculative jump in wheat prices continue to decline](https://feedsoft.ai/events/11056-after-a-speculative-jump-in-wheat-prices-continue-to-decline.md) | -2.3% | +11.7% |
| KWHEAT | 2018-11-01 | [How long can Russia undercut U.S. wheat prices?](https://feedsoft.ai/events/62069-how-long-can-russia-undercut-u-s-wheat-prices.md) | +1.8% | -5.5% |
| KWHEAT | 2025-05-27 | [Weak Chinese demand leaves Australia with too much wheat \| Reuters](https://feedsoft.ai/events/24704-weak-chinese-demand-leaves-australia-with-too-much-wheat-reuters.md) | +0.2% | -0.7% |

## Sources

- farmprogress.com: https://www.farmprogress.com/wheat/australia-argentina-wheat-harvest-high-potential-to-impact-u-s-prices

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