# Have wheat prices peaked?

> Wheat prices rallied in spring after dry weather in Russia from late April and early May, with Kansas City futures briefly above $7 a bushel. The article questions whether that rally can hold through the summer as U.S. harvest begins, citing farmers' large holdings of old-crop bushels.

- Date: 2024-07-01 · published 2024-07-01T12:00:00.000Z
- Category: weather · region Russia · magnitude low
- Page: https://feedsoft.ai/events/29816-have-wheat-prices-peaked
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Russian dryness supported prices, but farmer selling of old-crop stocks and the incoming harvest could cap gains and weigh on U.S. wheat values.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2018-08-04 | [Global Heat Wave Toasts Wheat and Prices Soar](https://feedsoft.ai/events/9684-global-heat-wave-toasts-wheat-and-prices-soar.md) | +2.9% | +1.6% |
| WHEAT | 2020-05-15 | [Wheat prices have started to recover thanks to the speculators](https://feedsoft.ai/events/53181-wheat-prices-have-started-to-recover-thanks-to-the-speculators.md) | +0.5% | +0.7% |
| WHEAT | 2024-04-19 | [Wheat Prices Rise On Russia Dryness](https://feedsoft.ai/events/30701-wheat-prices-rise-on-russia-dryness.md) | +0.8% | +2.3% |
| WHEAT | 2021-07-23 | [How High Will Minneapolis Wheat Prices Go?](https://feedsoft.ai/events/46135-how-high-will-minneapolis-wheat-prices-go.md) | -0.4% | +1.0% |
| WHEAT | 2026-01-26 | [Wheat: Cold ground, hot market: wheat prices rise](https://feedsoft.ai/events/21101-wheat-cold-ground-hot-market-wheat-prices-rise.md) | +2.3% | +5.5% |
| KWHEAT | 2021-07-23 | [How High Will Minneapolis Wheat Prices Go?](https://feedsoft.ai/events/46135-how-high-will-minneapolis-wheat-prices-go.md) | +3.2% | +9.4% |
| KWHEAT | 2026-01-26 | [Wheat: Cold ground, hot market: wheat prices rise](https://feedsoft.ai/events/21101-wheat-cold-ground-hot-market-wheat-prices-rise.md) | +0.7% | +3.6% |
| KWHEAT | 2018-05-04 | [Wheat prices up from Dec. 2017 levels](https://feedsoft.ai/events/65061-wheat-prices-up-from-dec-2017-levels.md) | -7.3% | -1.2% |

## Sources

- farmprogress.com: https://www.farmprogress.com/commentary/have-wheat-prices-peaked-

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