# U.S. wheat prices surge in wake of Russia-Ukraine conflict | Economic Research Service

> USDA's Economic Research Service reports that U.S. wheat export prices rose sharply after the Russia-Ukraine conflict began in February 2022. HRW export prices were up 78% and SRW up 64% in March versus a year earlier, while HRS is priced lower than HRW. Tight supplies across major exporters have lifted global prices.

- Date: 2022-04-22 · published 2022-04-22T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/41884-u-s-wheat-prices-surge-in-wake-of-russia-ukraine-conflict-economic-research
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

With Russia and Ukraine supplying about 28% of world wheat exports and major exporters' stocks at multi-year lows, U.S. wheat prices stay elevated, raising feed-wheat costs and supporting corn and barley as substitutes.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| KWHEAT | 2020-06-09 | [U.S. Farmers Planting Less Wheat, But Sowings of Winter Varieties Stay Stable \| Economic Research Service](https://feedsoft.ai/events/52649-u-s-farmers-planting-less-wheat-but-sowings-of-winter-varieties-stay-stable.md) | -3.2% | -5.3% |
| KWHEAT | 2022-09-30 | [GRAINS-Wheat Soars on U.S. Output Cuts, Russian Annexation of Ukraine Land](https://feedsoft.ai/events/39603-grains-wheat-soars-on-u-s-output-cuts-russian-annexation-of-ukraine-land.md) | -0.2% | -3.6% |
| KWHEAT | 2018-06-12 | [U.S. grains: Wheat surges after USDA cuts Russian output estimate - Grainews](https://feedsoft.ai/events/64555-u-s-grains-wheat-surges-after-usda-cuts-russian-output-estimate-grainews.md) | -6.6% | -9.5% |
| KWHEAT | 2021-07-30 | [A new decline in crop forecasts for the US, Canada and Russia continued to raise wheat prices](https://feedsoft.ai/events/46103-a-new-decline-in-crop-forecasts-for-the-us-canada-and-russia-continued-to-raise.md) | +2.5% | +6.1% |
| KWHEAT | 2019-11-20 | [Wheat prices rose on the results of the tender and data on crops in the United States](https://feedsoft.ai/events/11888-wheat-prices-rose-on-the-results-of-the-tender-and-data-on-crops-in-the-united.md) | +1.6% | +8.6% |
| WHEAT | 2024-05-16 | [Ukraine’s Rise in Grain and Sunflower Seed Market Share Limited by Ongoing War \| Economic Research Service](https://feedsoft.ai/events/14298-ukraine-s-rise-in-grain-and-sunflower-seed-market-share-limited-by-ongoing-war.md) | +19.1% | +8.2% |
| WHEAT | 2020-06-09 | [U.S. Farmers Planting Less Wheat, But Sowings of Winter Varieties Stay Stable \| Economic Research Service](https://feedsoft.ai/events/52649-u-s-farmers-planting-less-wheat-but-sowings-of-winter-varieties-stay-stable.md) | -1.0% | -6.3% |
| WHEAT | 2018-06-12 | [U.S. grains: Wheat surges after USDA cuts Russian output estimate - Grainews](https://feedsoft.ai/events/64555-u-s-grains-wheat-surges-after-usda-cuts-russian-output-estimate-grainews.md) | -0.9% | -6.9% |

## Sources

- ers.usda.gov: https://www.ers.usda.gov/data-products/charts-of-note/chart-detail?chartId=103793

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