# Terrain | Cheap Russian Wheat Puts Lid on U.S. Wheat Prices

> Terrain analysis says wheat prices keep falling despite lower global production, with Kansas HRW futures sliding from a $9.29 high in July. Cheap Russian wheat and the corn market slide are cited as the main drivers.

- Date: 2023-09-25 · published 2023-09-25T12:00:00.000Z
- Category: trade · region US · magnitude low
- Page: https://feedsoft.ai/events/34145-terrain-cheap-russian-wheat-puts-lid-on-u-s-wheat-prices
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Low-priced Russian wheat and weaker corn cap US wheat values, and the poor 2023 harvest may reduce 2024 US winter wheat plantings.

## Read by commodity

- CORN: bearish ▼
- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| KWHEAT | 2018-11-01 | [How long can Russia undercut U.S. wheat prices?](https://feedsoft.ai/events/62069-how-long-can-russia-undercut-u-s-wheat-prices.md) | +1.8% | -5.5% |
| KWHEAT | 2022-12-07 | [Wheat prices touch 14-month low on surging Russian exports - Nikkei Asia](https://feedsoft.ai/events/6645-wheat-prices-touch-14-month-low-on-surging-russian-exports-nikkei-asia.md) | +4.4% | -0.7% |
| KWHEAT | 2021-02-02 | [Record wheat exports from Russia increases pressure on prices](https://feedsoft.ai/events/48490-record-wheat-exports-from-russia-increases-pressure-on-prices.md) | +2.3% | +0.3% |
| KWHEAT | 2023-09-25 | [Explainer: Why are Russian export prices roiling the wheat market? \| Reuters](https://feedsoft.ai/events/34139-explainer-why-are-russian-export-prices-roiling-the-wheat-market-reuters.md) | -6.7% | -5.8% |
| KWHEAT | 2018-11-20 | [Wheat price held hostage to pace of Russian exports - Farmers Weekly](https://feedsoft.ai/events/62094-wheat-price-held-hostage-to-pace-of-russian-exports-farmers-weekly.md) | -3.3% | +7.2% |
| WHEAT | 2018-11-01 | [How long can Russia undercut U.S. wheat prices?](https://feedsoft.ai/events/62069-how-long-can-russia-undercut-u-s-wheat-prices.md) | -3.7% | -5.1% |
| WHEAT | 2022-12-07 | [Wheat prices touch 14-month low on surging Russian exports - Nikkei Asia](https://feedsoft.ai/events/6645-wheat-prices-touch-14-month-low-on-surging-russian-exports-nikkei-asia.md) | +10.0% | +8.7% |
| WHEAT | 2021-02-02 | [Record wheat exports from Russia increases pressure on prices](https://feedsoft.ai/events/48490-record-wheat-exports-from-russia-increases-pressure-on-prices.md) | +0.3% | +11.6% |

## Sources

- terrainag.com: https://www.terrainag.com/insights/cheap-russian-wheat-puts-lid-on-u-s-wheat-prices/

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