# Wheat Futures Erasing Early-year Losses

> Chicago wheat futures nearly erased their year-to-date losses as traders worried about weather in Russia, Europe and the U.S. July wheat closed at 622.25 cents on Friday, the highest weekly close in two years. Concerns centered on dry weather in Russia's southern Caucasus and possible frost losses in Europe.

- Date: 2024-04-29 · published 2024-04-29T12:00:00.000Z
- Category: weather · region Global · magnitude medium
- Page: https://feedsoft.ai/events/30783-wheat-futures-erasing-early-year-losses
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

A two-year high in wheat, driven by Black Sea and European weather risk, raises the cost of wheat-based feed and narrows its discount to corn.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-05-15 | [Chicago wheat futures ease](https://feedsoft.ai/events/10909-chicago-wheat-futures-ease.md) | +19.6% | +8.8% |
| WHEAT | 2018-07-31 | [Sharp rally for wheat futures \| VIC](https://feedsoft.ai/events/64074-sharp-rally-for-wheat-futures-vic.md) | +4.1% | +1.3% |
| WHEAT | 2018-05-23 | [CBOT wheat futures rally on technical buying](https://feedsoft.ai/events/10918-cbot-wheat-futures-rally-on-technical-buying.md) | -0.0% | -2.3% |
| WHEAT | 2017-07-03 | [Wheat and oat futures soar amid supply worries](https://feedsoft.ai/events/6175-wheat-and-oat-futures-soar-amid-supply-worries.md) | -0.1% | +1.9% |
| WHEAT | 2026-01-28 | [Wheat Futures Jump to 8-Week High](https://feedsoft.ai/events/21097-wheat-futures-jump-to-8-week-high.md) | +0.6% | +4.2% |
| KWHEAT | 2018-07-31 | [Sharp rally for wheat futures \| VIC](https://feedsoft.ai/events/64074-sharp-rally-for-wheat-futures-vic.md) | +7.0% | -8.4% |
| KWHEAT | 2018-05-23 | [CBOT wheat futures rally on technical buying](https://feedsoft.ai/events/10918-cbot-wheat-futures-rally-on-technical-buying.md) | +0.0% | -9.6% |
| KWHEAT | 2026-01-28 | [Wheat Futures Jump to 8-Week High](https://feedsoft.ai/events/21097-wheat-futures-jump-to-8-week-high.md) | +0.4% | +3.7% |

## Sources

- agriculture.com: https://www.agriculture.com/wheat-futures-erasing-early-year-losses-8640270

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