# Russian Frosts Feed the Wheat Bulls | CZ app

> Wheat markets have rallied over recent weeks as frost and dryness cut crop prospects in major exporters, especially Russia. The IGC lowered its 2024 global wheat production forecast to 795 million tonnes from 798 million. Consumption is expected to exceed 800 million tonnes, continuing the decline in world ending stocks.

- Date: 2024-05-30 · published 2024-05-30T12:00:00.000Z
- Category: weather · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/30317-russian-frosts-feed-the-wheat-bulls-cz-app
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Falling production against rising consumption draws down global stocks, which supports wheat prices and tightens feed wheat availability.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2020-07-30 | [Russian Wheat Export Tax Boosts Grain Prices](https://feedsoft.ai/events/52024-russian-wheat-export-tax-boosts-grain-prices.md) | -1.5% | +0.4% |
| WHEAT | 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) | -7.4% | -10.9% |
| WHEAT | 2019-12-10 | [What Surprises Are Stirring the Global Wheat Markets? \| CZ app](https://feedsoft.ai/events/10580-what-surprises-are-stirring-the-global-wheat-markets-cz-app.md) | +2.5% | +3.5% |
| WHEAT | 2020-09-28 | [Russia’s wheat prices reverse, will Black Sea dryness help wheat bulls? - The Sizov Report blog](https://feedsoft.ai/events/51157-russia-s-wheat-prices-reverse-will-black-sea-dryness-help-wheat-bulls-the-sizov.md) | +6.7% | +11.4% |
| WHEAT | 2020-10-08 | [Wheat price rally fuelled by Russia - Grain Central](https://feedsoft.ai/events/11635-wheat-price-rally-fuelled-by-russia-grain-central.md) | +0.0% | -0.6% |
| KWHEAT | 2020-07-30 | [Russian Wheat Export Tax Boosts Grain Prices](https://feedsoft.ai/events/52024-russian-wheat-export-tax-boosts-grain-prices.md) | -4.3% | +1.0% |
| 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 | 2019-12-10 | [What Surprises Are Stirring the Global Wheat Markets? \| CZ app](https://feedsoft.ai/events/10580-what-surprises-are-stirring-the-global-wheat-markets-cz-app.md) | +12.3% | +16.6% |

## Sources

- czapp.com: https://www.czapp.com/analyst-insights/russian-frosts-feed-the-wheat-bulls/

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