# Russian wheat shortfall a boon to US exporters of ... corn?

> Historic heat, dryness and frost have damaged Russia's winter wheat crop over several weeks, slashing harvest estimates for the top global wheat exporter. The shortfall has sparked a healthy rally in global wheat prices.

- Date: 2024-05-22 · published 2024-05-22T12:00:00.000Z
- Category: weather · region Russia · magnitude high
- Page: https://feedsoft.ai/events/4590-russian-wheat-shortfall-a-boon-to-us-exporters-of-corn
- 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

A smaller Russian crop tightens global wheat supply and lifts world prices, which can shift import demand toward US corn and other feed grains as substitutes.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2024-05-21 | 5 | +19.2% | 6.4 | Heat, dryness and frost cut Russian winter wheat harvest estimates, sparking a global price rally. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2020-07-30 | [Russian Wheat Export Tax Boosts Grain Prices](https://feedsoft.ai/events/52024-russian-wheat-export-tax-boosts-grain-prices.md) | -1.5% | +0.4% |
| WHEAT | 2024-05-07 | [Funds extend short covering in CBOT wheat on dry Russian crop](https://feedsoft.ai/events/6447-funds-extend-short-covering-in-cbot-wheat-on-dry-russian-crop.md) | +1.7% | +6.7% |
| WHEAT | 2024-12-06 | [Dire Russian crop health and Ukraine export risks threaten Black Sea wheat \| Reuters](https://feedsoft.ai/events/14243-dire-russian-crop-health-and-ukraine-export-risks-threaten-black-sea-wheat.md) | +0.7% | +0.4% |
| WHEAT | 2024-05-20 | [Kansas Wheat Tour Shows Crop Set to Rescue Market Plagued by Russia Shortfall - Bloomberg](https://feedsoft.ai/events/4591-kansas-wheat-tour-shows-crop-set-to-rescue-market-plagued-by-russia-shortfall.md) | +19.7% | +8.5% |
| WHEAT | 2019-06-21 | [Russian wheat exports forecast to decline \| 2019-06-21  \| World Grain](https://feedsoft.ai/events/58448-russian-wheat-exports-forecast-to-decline-2019-06-21-world-grain.md) | +7.9% | -3.0% |
| KWHEAT | 2020-07-30 | [Russian Wheat Export Tax Boosts Grain Prices](https://feedsoft.ai/events/52024-russian-wheat-export-tax-boosts-grain-prices.md) | -4.3% | +1.0% |
| KWHEAT | 2023-04-21 | [Wheat prices torn between strong Russian exports and struggling US crops \| Stock Journal \| SA](https://feedsoft.ai/events/36443-wheat-prices-torn-between-strong-russian-exports-and-struggling-us-crops-stock.md) | -7.3% | +2.0% |
| KWHEAT | 2024-12-06 | [Dire Russian crop health and Ukraine export risks threaten Black Sea wheat \| Reuters](https://feedsoft.ai/events/14243-dire-russian-crop-health-and-ukraine-export-risks-threaten-black-sea-wheat.md) | +1.9% | +3.2% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/russian-wheat-shortfall-boon-us-exporters-corn-2024-05-22/

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