# Wheat Markets Find New Legs in Australia - Alberta Grains

> Kansas City HRW and Chicago SRW wheat futures hit new contract highs after weaker USDA crop ratings. European wheat futures in Paris reached an all-time high on concerns over Ukraine's recently planted winter crop, where limited precipitation and reduced fertilizer use are cutting expectations. Heavy La Nina rains have also hit Australia's east coast, a key milling region.

- Date: 2021-11-29 · published 2021-11-29T12:00:00.000Z
- Category: weather · region Global · magnitude medium
- Page: https://feedsoft.ai/events/44081-wheat-markets-find-new-legs-in-australia-alberta-grains
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

Concurrent supply concerns in Ukraine, Australia and the US tighten global wheat availability, supporting feed grain prices and substitution demand.

## Read by commodity

- WHEAT: bullish ▲
- BARLEY: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-12-29 | [Checking for Tailwinds in Wheat - Alberta Grains](https://feedsoft.ai/events/43648-checking-for-tailwinds-in-wheat-alberta-grains.md) | -0.4% | +9.8% |
| WHEAT | 2018-12-18 | [Weekly Market Report - Grain Brokers Australia](https://feedsoft.ai/events/61642-weekly-market-report-grain-brokers-australia.md) | -1.8% | -2.2% |
| WHEAT | 2017-07-25 | [Global grain gains \| Meat & Livestock Australia](https://feedsoft.ai/events/69906-global-grain-gains-meat-and-livestock-australia.md) | +6.7% | -1.2% |
| WHEAT | 2023-02-23 | [El Niño expected to bring “normal” wheat crop in Australia - Fastmarkets](https://feedsoft.ai/events/37301-el-nino-expected-to-bring-normal-wheat-crop-in-australia-fastmarkets.md) | -3.0% | -8.7% |
| WHEAT | 2024-05-21 | [Grain market review: Wheat \| World Grain](https://feedsoft.ai/events/4592-grain-market-review-wheat-world-grain.md) | -7.2% | -10.5% |
| KWHEAT | 2021-12-29 | [Checking for Tailwinds in Wheat - Alberta Grains](https://feedsoft.ai/events/43648-checking-for-tailwinds-in-wheat-alberta-grains.md) | -2.2% | -0.7% |
| KWHEAT | 2017-07-25 | [Global grain gains \| Meat & Livestock Australia](https://feedsoft.ai/events/69906-global-grain-gains-meat-and-livestock-australia.md) | -2.6% | -16.4% |
| 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% |

## Sources

- albertagrains.com: https://www.albertagrains.com/combined-markets/market-insider/wheat-markets-find-new-legs-in-australia

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