# Why prices for wheat have climbed to their highest level since 2012 12.11.2021 - UkrAgroConsult

> Wheat prices rose above $8 a bushel for the first time in nearly nine years, with the USDA estimating 2021-22 U.S. wheat ending stocks at 583 million bushels, the lowest since 2007-08. U.S. domestic production fell 10% after northwestern Plains drought cut hard red spring and durum crops. Russia may lift grain export taxes, adding support.

- Date: 2021-11-12 · published 2021-11-12T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/44096-why-prices-for-wheat-have-climbed-to-their-highest-level-since-2012-12-11-2021
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Lowest U.S. ending stocks in over a decade and a smaller crop tighten supplies, keeping wheat expensive relative to corn and raising feed-ration costs.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2020-06-06 | [Food prices have risen to their highest level since 2022 - Agrobitė](https://feedsoft.ai/events/52682-food-prices-have-risen-to-their-highest-level-since-2022-agrobite.md) | -0.3% | -6.4% |
| WHEAT | 2021-12-10 | [USDA: wheat prices 10.12.2021 - UkrAgroConsult](https://feedsoft.ai/events/43638-usda-wheat-prices-10-12-2021-ukragroconsult.md) | -5.9% | -2.6% |
| WHEAT | 2021-10-13 | [France raises 2021 maize, sugar beet crop estimates, cuts wheat 13.10.2021 - UkrAgroConsult](https://feedsoft.ai/events/44479-france-raises-2021-maize-sugar-beet-crop-estimates-cuts-wheat-13-10-2021.md) | +0.6% | +8.2% |
| WHEAT | 2022-08-30 | [StatCan experts have increased their forecasts for the harvest of grain and oil crops in Canada 30.08.2022 - UkrAgroConsult](https://feedsoft.ai/events/40004-statcan-experts-have-increased-their-forecasts-for-the-harvest-of-grain-and-oil.md) | -2.3% | +2.6% |
| WHEAT | 2022-02-11 | [France cuts soft wheat area estimate, raises winter barley, rapeseed 11.02.2022 - UkrAgroConsult](https://feedsoft.ai/events/42649-france-cuts-soft-wheat-area-estimate-raises-winter-barley-rapeseed-11-02-2022.md) | +0.9% | +14.7% |
| KWHEAT | 2021-12-10 | [USDA: wheat prices 10.12.2021 - UkrAgroConsult](https://feedsoft.ai/events/43638-usda-wheat-prices-10-12-2021-ukragroconsult.md) | +1.2% | -2.5% |
| KWHEAT | 2026-05-12 | [Canadian wheat rises to its highest price since June 2025 tracking futures rally \| S&P Global](https://feedsoft.ai/events/10793-canadian-wheat-rises-to-its-highest-price-since-june-2025-tracking-futures.md) | +4.5% | -6.3% |
| KWHEAT | 2022-09-30 | [UPDATE 1-U.S. Wheat Harvest Falls Below Forecasts; Prices Rally](https://feedsoft.ai/events/39630-update-1-u-s-wheat-harvest-falls-below-forecasts-prices-rally.md) | -0.2% | -3.6% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/why-prices-for-wheat-have-climbed-to-their-highest-level-since-2012/

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