# Wheat soars to 9-year peak on supply concerns, strong demand | Reuters

> US wheat futures hit their highest in nearly nine years on Monday, with CBOT March SRW up 23-1/4 cents and KC HRW ending 28 cents higher at contract highs. The rally followed ill-timed rains in Australia and rising Russian wheat prices, with Russian shipments down 34% this season on a smaller crop and higher export taxes.

- Date: 2021-11-22 · published 2021-11-22T12:00:00.000Z
- Category: weather · region Global · magnitude medium
- Page: https://feedsoft.ai/events/44080-wheat-soars-to-9-year-peak-on-supply-concerns-strong-demand-reuters
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Tighter supply from the world's top exporters lifts wheat values and supports corn and soybean prices, raising feed grain costs for buyers.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-04-26 | [Wheat price rises to highest in eight years on supply concerns \| Seeking Alpha](https://feedsoft.ai/events/47637-wheat-price-rises-to-highest-in-eight-years-on-supply-concerns-seeking-alpha.md) | +3.3% | -0.2% |
| WHEAT | 2021-04-26 | [Corn futures jump to a 7-year high on supply concerns](https://feedsoft.ai/events/9399-corn-futures-jump-to-a-7-year-high-on-supply-concerns.md) | +3.3% | -0.2% |
| WHEAT | 2022-04-13 | [U.S. Hard Red Winter Wheat in Drought Adds Supply Concerns](https://feedsoft.ai/events/41905-u-s-hard-red-winter-wheat-in-drought-adds-supply-concerns.md) | -0.5% | +6.1% |
| 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% |
| WHEAT | 2024-07-13 | [USA: CBOT soybeans fall to four-year low due to weak demand and excess supply - Trade4go](https://feedsoft.ai/events/11200-usa-cbot-soybeans-fall-to-four-year-low-due-to-weak-demand-and-excess-supply.md) | -3.2% | -2.3% |
| SOY | 2021-04-26 | [Wheat price rises to highest in eight years on supply concerns \| Seeking Alpha](https://feedsoft.ai/events/47637-wheat-price-rises-to-highest-in-eight-years-on-supply-concerns-seeking-alpha.md) | +2.0% | -0.9% |
| SOY | 2021-04-26 | [Corn futures jump to a 7-year high on supply concerns](https://feedsoft.ai/events/9399-corn-futures-jump-to-a-7-year-high-on-supply-concerns.md) | +2.0% | -0.9% |
| SOY | 2021-04-22 | [Corn highest since 2013, soy tops $15 and wheat over $7 on supply fears \| Financial Post](https://feedsoft.ai/events/9788-corn-highest-since-2013-soy-tops-15-and-wheat-over-7-on-supply-fears-financial.md) | +4.0% | +2.7% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/wheat-jumps-1-hit-near-9-year-high-supply-woes-2021-11-22/

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