# USA: Wheat Spread Hits Record As Drought Plagues Midwest

> The spread between hard red winter and soft red winter wheat in Chicago hit a record $1.72/bu, surpassing the 2011 record. Drought in the US Plains has cut Kansas good-excellent ratings to 19%, and Canadian Prairies are also in severe dryness.

- Date: 2023-04-05 · published 2023-04-05T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/36445-usa-wheat-spread-hits-record-as-drought-plagues-midwest
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

A record HRW premium reflects real US drought losses that tighten HRW supply and support import demand. Dry Canadian Prairies add risk to global wheat and canola supply.

## Read by commodity

- WHEAT: bearish ▼
- KWHEAT: bullish ▲
- CANMEAL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| KWHEAT | 2026-03-26 | [Wheat spread hits one-year high as drought fears grow in US plains](https://feedsoft.ai/events/20220-wheat-spread-hits-one-year-high-as-drought-fears-grow-in-us-plains.md) | -0.6% | +7.9% |
| KWHEAT | 2018-06-19 | [Wheat feels the heat of record low US acres and drought reduced yields - High Plains Journal](https://feedsoft.ai/events/12353-wheat-feels-the-heat-of-record-low-us-acres-and-drought-reduced-yields-high.md) | -6.0% | -1.8% |
| KWHEAT | 2026-05-07 | [$7 wheat is back as Plains drought slashes crop prospects](https://feedsoft.ai/events/19314-7-wheat-is-back-as-plains-drought-slashes-crop-prospects.md) | +5.7% | -8.2% |
| KWHEAT | 2022-10-21 | [Unease ahead of 2023 grain harvest as record U.S. dryness spreads](https://feedsoft.ai/events/13320-unease-ahead-of-2023-grain-harvest-as-record-u-s-dryness-spreads.md) | -1.8% | -1.2% |
| KWHEAT | 2021-07-31 | [Wheat set for second monthly gain as drought cuts US yields - Markets - Business Recorder](https://feedsoft.ai/events/46098-wheat-set-for-second-monthly-gain-as-drought-cuts-us-yields-markets-business.md) | +4.8% | +5.8% |
| WHEAT | 2018-03-19 | [U.S. grains: Wheat tumbles as rains cross drought-hit Plains - Grainews](https://feedsoft.ai/events/8007-u-s-grains-wheat-tumbles-as-rains-cross-drought-hit-plains-grainews.md) | -0.5% | +3.6% |
| WHEAT | 2017-08-01 | [Wheat Prices Fall as Drought Worsens](https://feedsoft.ai/events/7130-wheat-prices-fall-as-drought-worsens.md) | -3.6% | -4.9% |
| WHEAT | 2022-11-28 | [India’s record high prices spur wheat sowing, area up nearly 11% y/y](https://feedsoft.ai/events/38631-india-s-record-high-prices-spur-wheat-sowing-area-up-nearly-11-y-y.md) | -1.1% | -2.7% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/usa-wheat-spread-hits-record-as-drought-plagues-midwest/

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