# Rabobank: ‘The wheat market is on fire’

> Rabobank says the wheat market is 'on fire' because Russia and Ukraine supply nearly 30% of global wheat exports, world wheat stocks are the lowest since 2006/07, US spring wheat acres are down, and southern Plains drought is intensifying. Rabobank models a scenario in which US wheat averages near $10.60/bu for 2022/23.

- Date: 2022-04-22 · published 2022-04-22T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/41887-rabobank-the-wheat-market-is-on-fire
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Converging supply losses in the US Plains and Black Sea point to sustained upward pressure on wheat prices, which lifts feed-wheat and substitute grain costs.

## Read by commodity

- CORN: bullish ▲
- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| KWHEAT | 2018-04-27 | [Farming News - Weather impacting on the Wheat Markets](https://feedsoft.ai/events/11223-farming-news-weather-impacting-on-the-wheat-markets.md) | +9.1% | +9.4% |
| 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 | 2024-05-21 | [Grain market review: Wheat \| World Grain](https://feedsoft.ai/events/4592-grain-market-review-wheat-world-grain.md) | +5.0% | -13.8% |
| KWHEAT | 2019-12-10 | [What Surprises Are Stirring the Global Wheat Markets? \| CZ app](https://feedsoft.ai/events/10580-what-surprises-are-stirring-the-global-wheat-markets-cz-app.md) | +12.3% | +16.6% |
| KWHEAT | 2020-04-04 | [Wheat Market Stabilizes, as the Black Sea Weather Remains Dry](https://feedsoft.ai/events/53686-wheat-market-stabilizes-as-the-black-sea-weather-remains-dry.md) | +4.7% | +2.5% |
| WHEAT | 2018-04-27 | [Farming News - Weather impacting on the Wheat Markets](https://feedsoft.ai/events/11223-farming-news-weather-impacting-on-the-wheat-markets.md) | +3.6% | +2.9% |
| WHEAT | 2022-06-16 | [Corn, wheat rise despite financial market selloff – The Seam](https://feedsoft.ai/events/40995-corn-wheat-rise-despite-financial-market-selloff-the-seam.md) | -2.3% | -13.8% |
| WHEAT | 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) | +0.5% | -2.1% |

## Sources

- foodnavigator.com: https://www.foodnavigator.com/Article/2022/04/22/Rabobank-The-wheat-market-is-on-fire/

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