# Wheat rises as dry weather fans fears of tighter supply

> Wheat futures rose as dry weather raised fears of tighter supply, with severe rainfall deficiencies expanding in parts of Australia. Rains helped stabilise crop expectations, but Australian wheat production is forecast about two-fifths lower than last year.

- Date: 2023-10-09 · published 2023-10-09T12:00:00.000Z
- Category: weather · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/33576-wheat-rises-as-dry-weather-fans-fears-of-tighter-supply
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Dry weather and a sharply smaller Australian crop tighten global wheat supply, supporting higher wheat prices and feed grain costs.

## Read by commodity

- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2025-05-09 | [Tight Wheat Supply Leaves Prices at Mercy of Any Weather Shocks - Bloomberg](https://feedsoft.ai/events/24707-tight-wheat-supply-leaves-prices-at-mercy-of-any-weather-shocks-bloomberg.md) | -0.1% | -2.5% |
| WHEAT | 2018-05-29 | [Wheat prices are rising because of the hot and dry weather](https://feedsoft.ai/events/65065-wheat-prices-are-rising-because-of-the-hot-and-dry-weather.md) | -0.9% | -2.8% |
| WHEAT | 2019-07-29 | [U.S. grains: Wheat rises as dry weather curbs Russian output; corn firm - AgCanada](https://feedsoft.ai/events/58150-u-s-grains-wheat-rises-as-dry-weather-curbs-russian-output-corn-firm-agcanada.md) | +0.7% | -1.2% |
| WHEAT | 2024-09-23 | [Wheat Extends Gains on Tight Supply Outlook Due to Poor Weather - Bloomberg](https://feedsoft.ai/events/5604-wheat-extends-gains-on-tight-supply-outlook-due-to-poor-weather-bloomberg.md) | +11.3% | +5.5% |
| WHEAT | 2021-04-26 | [Wheat price rises to highest in eight years on supply concerns \| Seeking Alpha](https://feedsoft.ai/events/47637-wheat-price-rises-to-highest-in-eight-years-on-supply-concerns-seeking-alpha.md) | +3.3% | -0.2% |

## Sources

- reuters.com: https://www.reuters.com/article/markets/commodities/wheat-rises-as-dry-weather-fans-fears-of-tighter-supply-idUSL1N3BF018/

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