# Wheat prices torn between strong Russian exports and struggling US crops | Stock Journal | SA

> Wheat prices are being pulled between strong, cheap Russian exports and prolonged US Plains dryness hitting the HRW crop, with US winter wheat rated only 27% good-excellent. A Russian export floor price of US$275/t FOB is rumored, and a 60-day Black Sea corridor extension expires May 18.

- Date: 2023-04-21 · published 2023-04-21T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/36443-wheat-prices-torn-between-strong-russian-exports-and-struggling-us-crops-stock
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Cheap Russian supply caps SRW, EU and Black Sea values, while poor US HRW conditions keep a drought premium in KC futures. Buyers face continued volatility until rains arrive or the corridor is resolved.

## Read by commodity

- WHEAT: bearish ▼
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2024-12-06 | [Dire Russian crop health and Ukraine export risks threaten Black Sea wheat \| Reuters](https://feedsoft.ai/events/14243-dire-russian-crop-health-and-ukraine-export-risks-threaten-black-sea-wheat.md) | +1.9% | +3.2% |
| KWHEAT | 2018-06-06 | [Drought and US rail rates prop up export prices - High Plains Journal](https://feedsoft.ai/events/64574-drought-and-us-rail-rates-prop-up-export-prices-high-plains-journal.md) | +4.6% | -12.6% |
| KWHEAT | 2018-02-06 | [US crop worries supports wheat prices \| VIC](https://feedsoft.ai/events/66543-us-crop-worries-supports-wheat-prices-vic.md) | +3.4% | +14.6% |
| WHEAT | 2021-03-22 | [Russian wheat export prices down amid weak demand - Markets - Business Recorder](https://feedsoft.ai/events/12405-russian-wheat-export-prices-down-amid-weak-demand-markets-business-recorder.md) | +0.9% | +0.3% |
| WHEAT | 2017-09-20 | [Wheat price drops to 162.00 EUR / t - Russia's wheat](https://feedsoft.ai/events/8739-wheat-price-drops-to-162-00-eur-t-russia-s-wheat.md) | -6.6% | +3.5% |
| WHEAT | 2024-05-17 | [Forecasts of a good wheat harvest in the US and the EU continue to lower stock prices](https://feedsoft.ai/events/10908-forecasts-of-a-good-wheat-harvest-in-the-us-and-the-eu-continue-to-lower-stock.md) | +19.4% | +8.4% |

## Sources

- stockjournal.com.au: https://www.stockjournal.com.au/story/8164203/wheat-prices-remain-torn/

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