# What Futures Remain Fundamentally Bullish » Trilateral - Perspectives You Can Price On

> Minneapolis December spring wheat futures rose above $10 a bushel to a new contract high. Ending stocks are estimated at a 14-year low, US spring wheat supplies are down 44% year over year, and Russia raised its wheat export tax to about $67 a tonne.

- Date: 2021-10-28 · published 2021-10-28T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/44583-what-futures-remain-fundamentally-bullish-trilateral-perspectives-you-can-price
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Record-high spring wheat values and Russian export tax increases tighten global wheat supply, lifting feed grain costs and supporting prices for substitutes.

## Read by commodity

- CORN: bullish ▲
- WHEAT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2021-11-01 | 5 | +10.3% | 2.9 | Low US ending stocks and Russia's higher export tax supported a bullish wheat fundamental backdrop. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2018-06-12 | [Futures rally on bullish corn, soybean data](https://feedsoft.ai/events/64480-futures-rally-on-bullish-corn-soybean-data.md) | -0.9% | -6.9% |
| WHEAT | 2018-06-19 | [Wheat/barley price prospects on the rise; oilseeds to fall: ABARES - Grain Central](https://feedsoft.ai/events/64497-wheat-barley-price-prospects-on-the-rise-oilseeds-to-fall-abares-grain-central.md) | -0.7% | -3.1% |
| WHEAT | 2020-10-07 | [Wheat price rally as US futures hit highs \| Farm Online \| ACT](https://feedsoft.ai/events/11632-wheat-price-rally-as-us-futures-hit-highs-farm-online-act.md) | +0.4% | -0.1% |
| WHEAT | 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) | +2.0% | -3.2% |
| WHEAT | 2021-01-12 | [Grain prices soar on bullish USDA reports](https://feedsoft.ai/events/49089-grain-prices-soar-on-bullish-usda-reports.md) | +2.3% | -3.8% |
| CORN | 2018-06-12 | [Futures rally on bullish corn, soybean data](https://feedsoft.ai/events/64480-futures-rally-on-bullish-corn-soybean-data.md) | -2.1% | -4.6% |
| CORN | 2018-06-19 | [Wheat/barley price prospects on the rise; oilseeds to fall: ABARES - Grain Central](https://feedsoft.ai/events/64497-wheat-barley-price-prospects-on-the-rise-oilseeds-to-fall-abares-grain-central.md) | -0.9% | -2.0% |
| CORN | 2021-01-12 | [Grain prices soar on bullish USDA reports](https://feedsoft.ai/events/49089-grain-prices-soar-on-bullish-usda-reports.md) | +5.8% | +11.6% |

## Sources

- trilatinc.com: https://www.trilatinc.com/what-futures-remain-fundamentally-bullish/

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