# Drought drives big drop in wheat and oat forecast amid long-term shift to corn and soybeans — Spot On South Dakota

> Spot On South Dakota reports drought has driven a large drop in wheat and oat forecasts in the region. Farmers are shifting acreage toward corn and soybeans for cash returns.

- Date: 2023-08-09 · published 2023-08-09T12:00:00.000Z
- Category: weather · region US · magnitude low
- Page: https://feedsoft.ai/events/34647-drought-drives-big-drop-in-wheat-and-oat-forecast-amid-long-term-shift-to-corn
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Oats](https://feedsoft.ai/c/OATS.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Lower wheat and oat output in the US Plains tightens feed grain supply modestly, while the acreage shift favors corn and soybean supply growth over time.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- OATS: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2023-05-29 | [Corn, Soybeans and Wheat in the Grips of Drought - AgWeb](https://feedsoft.ai/events/13276-corn-soybeans-and-wheat-in-the-grips-of-drought-agweb.md) | -1.4% | -1.7% |
| WHEAT | 2023-06-06 | [Wheat prices are recovering amid increased demand and lower crop forecasts](https://feedsoft.ai/events/35513-wheat-prices-are-recovering-amid-increased-demand-and-lower-crop-forecasts.md) | -0.1% | +2.2% |
| WHEAT | 2025-01-29 | [Will the Bull Market in Corn Continue to Pull Up Soybeans and Wheat? - AgWeb](https://feedsoft.ai/events/6895-will-the-bull-market-in-corn-continue-to-pull-up-soybeans-and-wheat-agweb.md) | +0.6% | +1.4% |
| WHEAT | 2026-03-06 | [Soybeans, corn, wheat see more support from drop in the dollar - Brownfield Ag News](https://feedsoft.ai/events/9854-soybeans-corn-wheat-see-more-support-from-drop-in-the-dollar-brownfield-ag-news.md) | +0.8% | +0.1% |
| WHEAT | 2019-11-18 | [WA wheat crop forecast dives \| Farm Online \| ACT](https://feedsoft.ai/events/56007-wa-wheat-crop-forecast-dives-farm-online-act.md) | +3.8% | +3.1% |
| OATS | 2021-11-04 | [As demand for oat milk increases, oat supplies wanes due to drought, demand \| Dairy Processing](https://feedsoft.ai/events/44115-as-demand-for-oat-milk-increases-oat-supplies-wanes-due-to-drought-demand-dairy.md) | -0.9% | -0.8% |
| OATS | 2021-10-08 | [An Oat-Killing Drought Is Signaling Inflation for Breakfast Staples](https://feedsoft.ai/events/44611-an-oat-killing-drought-is-signaling-inflation-for-breakfast-staples.md) | +2.0% | +19.0% |
| OATS | 2021-10-12 | [Drought pinches oat crops — and food makers that rely on them](https://feedsoft.ai/events/44609-drought-pinches-oat-crops-and-food-makers-that-rely-on-them.md) | -1.6% | +7.5% |

## Sources

- spotonsouthdakota.com: https://spotonsouthdakota.com/southeast-south-dakota/549308/drought-drives-big-drop-in-wheat.html

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