# Wheat walking a tightrope - Mecardo

> Wheat broke a month-long downtrend as the market shifted focus to Russia-Ukraine escalation risk and US HRW production. Freezing temperatures across the Canadian Prairies to Texas raised winter-kill concerns, and Kansas wheat was rated 47% poor to very poor. Southern Russia has also been unusually dry over the past 30 days.

- Date: 2023-02-03 · published 2023-02-03T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/37382-wheat-walking-a-tightrope-mecardo
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Winter kill risk in US HRW and dryness in southern Russia threaten supplies from key exporters, supporting wheat prices and feed grain costs.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| KWHEAT | 2022-11-03 | [Wheat prices up amid war, expanding drought \| texaswheat.org](https://feedsoft.ai/events/7292-wheat-prices-up-amid-war-expanding-drought-texaswheat-org.md) | -1.1% | -4.0% |
| KWHEAT | 2023-09-14 | [Tight global wheat story is stuck on repeat, supporting market bears  \| Reuters](https://feedsoft.ai/events/34029-tight-global-wheat-story-is-stuck-on-repeat-supporting-market-bears-reuters.md) | -1.1% | -9.5% |
| KWHEAT | 2021-12-29 | [Checking for Tailwinds in Wheat - Alberta Grains](https://feedsoft.ai/events/43648-checking-for-tailwinds-in-wheat-alberta-grains.md) | -2.2% | -0.7% |
| KWHEAT | 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) | +1.7% | +10.8% |
| KWHEAT | 2021-06-29 | [Extreme heat wallops wheat and canola crops, pushing prices to record highs \| CBC News](https://feedsoft.ai/events/46626-extreme-heat-wallops-wheat-and-canola-crops-pushing-prices-to-record-highs-cbc.md) | -6.9% | +3.8% |
| WHEAT | 2023-11-21 | [A halt to harvest - Mecardo](https://feedsoft.ai/events/12474-a-halt-to-harvest-mecardo.md) | -0.5% | -0.4% |
| WHEAT | 2019-07-31 | [Dryness in Europe tightening wheat supply -  Premium](https://feedsoft.ai/events/58153-dryness-in-europe-tightening-wheat-supply-premium.md) | -1.2% | -0.4% |
| WHEAT | 2023-11-20 | [Rains taking toll on EU soft wheat area](https://feedsoft.ai/events/33130-rains-taking-toll-on-eu-soft-wheat-area.md) | +2.8% | +3.0% |

## Sources

- mecardo.com.au: https://mecardo.com.au/wheat-walking-a-tightrope/

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