# Wheat prices in the US fell to the lowest level since 2020

> Chicago wheat futures fell to their lowest since July 2020 after the Wheat Quality Council crop tour found strong North Dakota yields, including a record durum yield. Kansas and Minneapolis wheat also hit their lowest since December 2020, while European wheat fell less on lower EU and Ukrainian harvest forecasts.

- Date: 2024-07-29 · published 2024-07-29T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/29288-wheat-prices-in-the-us-fell-to-the-lowest-level-since-2020
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

Large US yields and rising Canadian and Russian forecasts add supply pressure on wheat, lowering feed wheat values. European crop cuts limit the downside in Euronext prices.

## Read by commodity

- WHEAT: bearish ▼
- BARLEY: neutral
- KWHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2019-10-08 | [The increase in wheat prices reduces demand](https://feedsoft.ai/events/5902-the-increase-in-wheat-prices-reduces-demand.md) | +4.5% | +2.1% |
| WHEAT | 2025-05-14 | [USDA forecasts lower wheat, corn, sorghum prices for 2025/26](https://feedsoft.ai/events/24718-usda-forecasts-lower-wheat-corn-sorghum-prices-for-2025-26.md) | -3.8% | -2.9% |
| WHEAT | 2024-08-13 | [Despite lower production and inventory forecasts in the USDA report, wheat exchange prices fell](https://feedsoft.ai/events/28812-despite-lower-production-and-inventory-forecasts-in-the-usda-report-wheat.md) | -6.7% | -2.9% |
| WHEAT | 2023-06-29 | [Wheat prices fell again by 2.2-4.8% on the background of increased acreage in Canada](https://feedsoft.ai/events/35514-wheat-prices-fell-again-by-2-2-4-8-on-the-background-of-increased-acreage-in.md) | -8.3% | -8.2% |
| WHEAT | 2021-03-18 | [The higher forecast production in the new season lowers the price of wheat old crop](https://feedsoft.ai/events/48191-the-higher-forecast-production-in-the-new-season-lowers-the-price-of-wheat-old.md) | +0.9% | -3.3% |
| KWHEAT | 2025-05-14 | [USDA forecasts lower wheat, corn, sorghum prices for 2025/26](https://feedsoft.ai/events/24718-usda-forecasts-lower-wheat-corn-sorghum-prices-for-2025-26.md) | +6.8% | +4.8% |
| KWHEAT | 2024-08-13 | [Despite lower production and inventory forecasts in the USDA report, wheat exchange prices fell](https://feedsoft.ai/events/28812-despite-lower-production-and-inventory-forecasts-in-the-usda-report-wheat.md) | -1.4% | +5.7% |
| KWHEAT | 2023-06-29 | [Wheat prices fell again by 2.2-4.8% on the background of increased acreage in Canada](https://feedsoft.ai/events/35514-wheat-prices-fell-again-by-2-2-4-8-on-the-background-of-increased-acreage-in.md) | +5.3% | +8.2% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/wheat-prices-in-the-us-fell-to-the-lowest-level-since-2020/

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