# Wheat prices are supported by forecasts of a reduced harvest next season

> Strong export sales from October 2022 to January 2023 raised importer concerns that the 2023/24 wheat harvest in major exporters could shrink. Ukraine's 2023 wheat output is expected near 15-16 million tonnes, the lowest since 2007, and Russia's crop is forecast at 85-86 million tonnes.

- Date: 2023-02-14 · published 2023-02-14T12:00:00.000Z
- Category: weather · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/37374-wheat-prices-are-supported-by-forecasts-of-a-reduced-harvest-next-season
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Forecast declines in Ukraine and Russia's crops point to tighter supplies after the current season, supporting wheat prices and feed costs.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2020-09-24 | [Wheat prices rose because of lower production forecast for Argentina](https://feedsoft.ai/events/10435-wheat-prices-rose-because-of-lower-production-forecast-for-argentina.md) | +6.7% | +11.0% |
| WHEAT | 2025-07-30 | [EU wheat rises, supported by high Russian prices — TradingView News](https://feedsoft.ai/events/23798-eu-wheat-rises-supported-by-high-russian-prices-tradingview-news.md) | -0.7% | -0.1% |
| WHEAT | 2025-04-02 | [Analysts forecast a decrease in wheat production in Australia in the new season](https://feedsoft.ai/events/25087-analysts-forecast-a-decrease-in-wheat-production-in-australia-in-the-new-season.md) | -0.8% | +1.9% |
| 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 | 2023-11-30 | [Forecasts of a decrease in the production of wheat and rapeseed in the EU in 2024/25 MY support quotations](https://feedsoft.ai/events/33128-forecasts-of-a-decrease-in-the-production-of-wheat-and-rapeseed-in-the-eu-in.md) | +1.2% | +0.0% |
| KWHEAT | 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) | -3.1% | +3.3% |
| KWHEAT | 2021-04-26 | [WHEAT SCOOPS: Harvest contract cash wheat prices $5.50-$6.50](https://feedsoft.ai/events/9792-wheat-scoops-harvest-contract-cash-wheat-prices-5-50-6-50.md) | +3.7% | -7.3% |
| KWHEAT | 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) | -7.5% | -16.7% |

## Sources

- graintrade.com.ua: https://graintrade.com.ua/en/novosti/kursi-na-pshenitcyu-otrimuyut-pidtrimku-zavdyaki-prognozam-skorochennya-vrozhayu-v-nastupn.html

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