# Russia’s smaller wheat harvest expected to drive market volatility | CoBank | Cooperative. Connected. Committed.

> CoBank expects Russia's smaller wheat crop from drought and frost to drive extreme volatility in world wheat markets. Russia supplies about a quarter of world wheat exports, and global stocks-to-use ratios are historically tight. Turkey's import ban and US harvest pressure have caused recent price swings.

- Date: 2024-06-20 · published 2024-06-20T12:00:00.000Z
- Category: weather · region Russia · magnitude medium
- Page: https://feedsoft.ai/events/29801-russia-s-smaller-wheat-harvest-expected-to-drive-market-volatility-cobank
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Tight Russian supply and low world stocks raise the risk of sharp wheat price rallies once Northern Hemisphere harvest pressure fades, raising feed costs.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| KWHEAT | 2017-07-31 | [Canola market dips to rally, heat stress hits wheat crops - AgCanada](https://feedsoft.ai/events/69929-canola-market-dips-to-rally-heat-stress-hits-wheat-crops-agcanada.md) | -4.5% | -15.9% |
| KWHEAT | 2024-05-22 | [Russian wheat shortfall a boon to US exporters of ... corn?](https://feedsoft.ai/events/4590-russian-wheat-shortfall-a-boon-to-us-exporters-of-corn.md) | +2.6% | -15.6% |
| KWHEAT | 2026-04-22 | [Dry conditions, war ruffle U.S. wheat market \| Capital Press](https://feedsoft.ai/events/19772-dry-conditions-war-ruffle-u-s-wheat-market-capital-press.md) | +8.3% | +9.4% |
| KWHEAT | 2024-05-31 | [Russia, India set to spark major swing in global wheat balance](https://feedsoft.ai/events/30288-russia-india-set-to-spark-major-swing-in-global-wheat-balance.md) | -4.4% | -17.2% |
| KWHEAT | 2022-04-22 | [Rabobank: ‘The wheat market is on fire’](https://feedsoft.ai/events/41887-rabobank-the-wheat-market-is-on-fire.md) | -0.1% | +13.8% |
| WHEAT | 2022-01-04 | [Agriculture: Cocereal expects Romania's wheat harvest to drop to 7.9 million tons in 2022](https://feedsoft.ai/events/43079-agriculture-cocereal-expects-romania-s-wheat-harvest-to-drop-to-7-9-million.md) | +4.3% | +7.9% |
| WHEAT | 2021-09-01 | [La Niña Wheat Prices And Market Volatility](https://feedsoft.ai/events/45014-la-nina-wheat-prices-and-market-volatility.md) | +1.4% | +0.8% |
| WHEAT | 2021-08-28 | [French soft wheat harvest not completed - Markets - Business Recorder](https://feedsoft.ai/events/45506-french-soft-wheat-harvest-not-completed-markets-business-recorder.md) | +0.2% | +0.5% |

## Sources

- cobank.com: https://www.cobank.com/knowledge-exchange/russias-smaller-wheat-harvest-expected-to-drive-market-volatility

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