# Black Sea, Canadian wheat prices surge on weather, crop fears | S&P Global

> Wheat prices in the Black Sea and Canada reached their highest levels in months after cold weather and frost damaged Russian wheat. Platts assessed FOB Russian 12.5% wheat at $245/mt on May 22, up from $219/mt on May 7. Dry weather is forecast for Ukraine, and rail strikes are also supporting Canadian prices.

- Date: 2024-05-22 · published 2024-05-22T12:00:00.000Z
- Category: weather · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/30289-black-sea-canadian-wheat-prices-surge-on-weather-crop-fears-s-and-p-global
- Commodities: [Barley](https://feedsoft.ai/c/BARLEY.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Lower Russian and Ukrainian production estimates and Canadian rail disruption tighten export supplies, which supports wheat prices and raises the cost of imported grain for feed buyers.

## Read by commodity

- WHEAT: bullish ▲
- BARLEY: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| KWHEAT | 2021-07-29 | [Black Sea wheat price surges as dry weather slashes crop outlooks - Fastmarkets](https://feedsoft.ai/events/46099-black-sea-wheat-price-surges-as-dry-weather-slashes-crop-outlooks-fastmarkets.md) | +5.3% | +6.4% |
| KWHEAT | 2024-10-10 | [Harsh weather curbs global wheat output, buoys prices - Grainews](https://feedsoft.ai/events/27902-harsh-weather-curbs-global-wheat-output-buoys-prices-grainews.md) | -3.3% | -5.7% |
| KWHEAT | 2024-05-09 | [Wheat Prices Have Soared on Global Conflict, Extreme Weather - Markets Insider](https://feedsoft.ai/events/30292-wheat-prices-have-soared-on-global-conflict-extreme-weather-markets-insider.md) | +2.5% | +3.0% |
| KWHEAT | 2020-05-26 | [Canadian Wheat Crop Boosts Export Pressure](https://feedsoft.ai/events/53174-canadian-wheat-crop-boosts-export-pressure.md) | +4.0% | -3.0% |
| KWHEAT | 2025-03-17 | [U.S. grains: Wheat climbs on fears of wind damage to US crop - AgCanada](https://feedsoft.ai/events/5620-u-s-grains-wheat-climbs-on-fears-of-wind-damage-to-us-crop-agcanada.md) | +2.7% | -1.0% |
| WHEAT | 2021-07-29 | [Black Sea wheat price surges as dry weather slashes crop outlooks - Fastmarkets](https://feedsoft.ai/events/46099-black-sea-wheat-price-surges-as-dry-weather-slashes-crop-outlooks-fastmarkets.md) | +2.2% | +2.5% |
| WHEAT | 2022-03-23 | [Canadian farmers face drought threat as global wheat, canola prices soar](https://feedsoft.ai/events/42232-canadian-farmers-face-drought-threat-as-global-wheat-canola-prices-soar.md) | +1.3% | -9.2% |
| WHEAT | 2024-05-06 | [U.S. grains: Wheat, soy, corn futures extend surge on volatile global weather - AgCanada](https://feedsoft.ai/events/11627-u-s-grains-wheat-soy-corn-futures-extend-surge-on-volatile-global-weather.md) | +2.2% | +13.7% |

## Sources

- spglobal.com: https://www.spglobal.com/energy/en/news-research/latest-news/agriculture/052224-black-sea-canadian-wheat-prices-surge-on-weather-crop-fears

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