# Canadian farmers face drought threat as global wheat, canola prices soar

> Canadian farmers may face another drought this year, with dry conditions threatening crop development. The report notes that global wheat and canola prices are soaring at the same time.

- Date: 2022-03-23 · published 2022-03-23T12:00:00.000Z
- Category: weather · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/42232-canadian-farmers-face-drought-threat-as-global-wheat-canola-prices-soar
- Commodities: [Barley](https://feedsoft.ai/c/BARLEY.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Drought risk in Canada, a major wheat and canola exporter, could tighten supplies at a time when world stocks are already low, supporting higher prices for wheat, canola and canola meal.

## Read by commodity

- WHEAT: bullish ▲
- BARLEY: bullish ▲
- CANMEAL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2026-04-30 | [Wheat Prices Jump as Drought Threatens U.S. Output - WSJ](https://feedsoft.ai/events/19766-wheat-prices-jump-as-drought-threatens-u-s-output-wsj.md) | -3.2% | -0.6% |
| WHEAT | 2022-05-20 | [Global Wheat Supplies Face New Threats as Drought Levels Rise, Gro’s Model Shows](https://feedsoft.ai/events/41360-global-wheat-supplies-face-new-threats-as-drought-levels-rise-gro-s-model-shows.md) | -2.9% | -2.9% |
| WHEAT | 2018-08-04 | [Global Heat Wave Toasts Wheat and Prices Soar](https://feedsoft.ai/events/9684-global-heat-wave-toasts-wheat-and-prices-soar.md) | +2.9% | +1.6% |
| WHEAT | 2024-05-22 | [Black Sea, Canadian wheat prices surge on weather, crop fears \| S&P Global](https://feedsoft.ai/events/30289-black-sea-canadian-wheat-prices-surge-on-weather-crop-fears-s-and-p-global.md) | -7.4% | -10.9% |
| WHEAT | 2021-08-26 | [Agriculture and Agri-Food Canada (finally) acknowledges heat, drought have slashed its wheat and canola crops - Pro Farmer](https://feedsoft.ai/events/45542-agriculture-and-agri-food-canada-finally-acknowledges-heat-drought-have-slashed.md) | +0.1% | +0.3% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/canadian-farmers-face-drought-threat-as-global-wheat-canola-prices-soar
- reuters.com: https://www.reuters.com/article/markets/commodities/canadian-farmers-face-drought-threat-as-global-wheat-canola-prices-soar-idUSL2N2VL15K/

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