# Dynamics and Implications of the Recent Rise in Wheat Prices | Banque de France

> Banque de France published a analysis of the recent surge in global wheat prices, linking the rise since 2020 to steep increases in fertiliser prices, supply disruptions from the Ukraine war, and trade restrictions by some countries. It notes that US HRW wheat hit a historic high of $522.3/t in May 2022 before easing.

- Date: 2022-12-23 · published 2022-12-23T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/38284-dynamics-and-implications-of-the-recent-rise-in-wheat-prices-banque-de-france
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Urea](https://feedsoft.ai/c/UREA.md)

## Why it matters

Wheat is fertiliser-intensive and many developing importers depend on few exporters, so high energy and fertiliser costs keep feed grain costs elevated and exposed to supply shocks.

## Read by commodity

- UREA: bullish ▲
- KWHEAT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| UREA | 2021-10-20 | [The Global Energy Crisis: Implications of Record High Natural Gas Prices - Center on Global Energy Policy at Columbia University SIPA \| CGEP](https://feedsoft.ai/events/44767-the-global-energy-crisis-implications-of-record-high-natural-gas-prices-center.md) | -2.0% | +9.0% |
| UREA | 2021-10-01 | [Explainer: What's behind the wild surges in global LNG prices and the risks ahead \| Reuters](https://feedsoft.ai/events/44761-explainer-what-s-behind-the-wild-surges-in-global-lng-prices-and-the-risks.md) | +26.3% | +29.3% |
| UREA | 2023-07-26 | [The increase in the price of oil led to an increase in the prices of gas and nitrogen fertilizers](https://feedsoft.ai/events/7009-the-increase-in-the-price-of-oil-led-to-an-increase-in-the-prices-of-gas-and.md) | +28.9% | +17.2% |
| UREA | 2020-06-19 | [Sharp increase in SA fertiliser prices due to weak rand](https://feedsoft.ai/events/52920-sharp-increase-in-sa-fertiliser-prices-due-to-weak-rand.md) | +0.6% | +6.2% |
| UREA | 2025-02-12 | [Winter Weather, LNG Demand Raises Forecast Natural Gas Benchmark Prices — The Offtake](https://feedsoft.ai/events/26218-winter-weather-lng-demand-raises-forecast-natural-gas-benchmark-prices-the.md) | +0.3% | -4.0% |

## Sources

- banque-france.fr: https://www.banque-france.fr/en/publications-and-statistics/publications/dynamics-and-implications-recent-rise-wheat-prices

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