# As wheat prices soar, the world's consumers vote with their feet | Reuters

> Wheat prices have risen sharply, prompting consumers and feed users to switch ingredients. Vietnam's mills are substituting rice for wheat on government request, and Thailand raised its corn import quota to 600,000 tonnes and cut duties to ease a tight feed market. USDA cut its 2022/23 global wheat consumption forecast in July.

- Date: 2022-08-03 · published 2022-08-03T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/39925-as-wheat-prices-soar-the-world-s-consumers-vote-with-their-feet-reuters
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Rough Rice](https://feedsoft.ai/c/RICE.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Substitution away from wheat into rice and corn in feed supports demand for those grains and reflects tight wheat supply, while Thailand's corn import expansion adds to global corn demand.

## Read by commodity

- CORN: bullish ▲
- RICE: bullish ▲
- WHEAT: bullish ▲

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/wheat-prices-soar-worlds-consumers-vote-with-their-feet-2022-08-03/

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