# WHEAT SCOOPS: $11 wheat, why and how long? – The Seam

> An analysis published June 29, 2022 says wheat prices near $11 per bushel in Oklahoma and the Texas Panhandle reflect a long uptrend that started around 2018/19, not just the Russian invasion of Ukraine. It projects the US average wheat price at $10.75 for 2022/23, and notes that wheat use is projected to equal or exceed production in recent and coming marketing years.

- Date: 2022-06-29 · published 2022-06-29T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/40982-wheat-scoops-11-wheat-why-and-how-long-the-seam
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Tight projected US wheat balance sheets with use at or above production keep cash wheat prices elevated for feed formulators.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| KWHEAT | 2018-05-16 | [Corn Hands the Baton to Wheat](https://feedsoft.ai/events/10238-corn-hands-the-baton-to-wheat.md) | +6.0% | +5.7% |
| KWHEAT | 2022-01-24 | [2022 Price Outlook for Hard Red Winter and Soft Red Winter Wheat](https://feedsoft.ai/events/43177-2022-price-outlook-for-hard-red-winter-and-soft-red-winter-wheat.md) | +1.1% | +5.3% |
| KWHEAT | 2023-05-03 | [Turner's Take Ag Markets \| HRW Wheat Leads CBOT Higher](https://feedsoft.ai/events/7383-turner-s-take-ag-markets-hrw-wheat-leads-cbot-higher.md) | +17.5% | +2.5% |
| KWHEAT | 2018-03-26 | [Goodbye, Kansas Wheat?](https://feedsoft.ai/events/66044-goodbye-kansas-wheat.md) | -2.5% | +0.8% |
| KWHEAT | 2026-01-28 | [Wheat Prices Rally as Dollar Dips; Todd Hubbs Weighs in on Crop Outlook and Policy Rumors - Oklahoma Farm Report](https://feedsoft.ai/events/21102-wheat-prices-rally-as-dollar-dips-todd-hubbs-weighs-in-on-crop-outlook-and.md) | +0.4% | +3.7% |
| WHEAT | 2023-12-26 | [Stong start for wheat following the long holiday weekend - Brownfield Ag News](https://feedsoft.ai/events/11287-stong-start-for-wheat-following-the-long-holiday-weekend-brownfield-ag-news.md) | +3.2% | +0.5% |
| WHEAT | 2018-05-16 | [Corn Hands the Baton to Wheat](https://feedsoft.ai/events/10238-corn-hands-the-baton-to-wheat.md) | +4.0% | +3.6% |
| WHEAT | 2026-01-29 | [What the sinking U.S. dollar means to Canada and world](https://feedsoft.ai/events/21288-what-the-sinking-u-s-dollar-means-to-canada-and-world.md) | -0.5% | +3.1% |

## Sources

- theseam.com: https://www.theseam.com/wheat-scoops-11-wheat-why-and-how-long/

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