# Kansas Wheat Tour Shows Crop Set to Rescue Market Plagued by Russia Shortfall - Bloomberg

> Kansas wheat scouts were expected to find a crop that rescues a market hit by a Russian shortfall. Analysts have been cutting Russia's next harvest estimates after a spell of bad weather, and benchmark prices have risen more than 10% this month.

- Date: 2024-05-20 · published 2024-05-20T12:00:00.000Z
- Category: weather · region Russia · magnitude medium
- Page: https://feedsoft.ai/events/4591-kansas-wheat-tour-shows-crop-set-to-rescue-market-plagued-by-russia-shortfall
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Cuts to Russia's crop tighten global supplies and support prices, while a strong Kansas crop would partly offset that tightness for HRW buyers.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: neutral

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2024-05-20 | 1 | +12.8% | 10.4 | Published May 20, it explains the Russian harvest estimate cuts behind the month's 10%+ price gain, though the expected Kansas crop is a bearish offset. |
| WHEAT | 2024-05-21 | 5 | +19.2% | 6.4 | Bloomberg notes analysts cutting Russian harvest estimates and prices up more than 10% in May, which framed the supply-shortfall rally going into the window. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-05-22 | [Russian wheat shortfall a boon to US exporters of ... corn?](https://feedsoft.ai/events/4590-russian-wheat-shortfall-a-boon-to-us-exporters-of-corn.md) | -7.4% | -10.9% |
| WHEAT | 2017-05-01 | [Wheat Futures Surge After U.S. Crop Pummeled by Snowstorm - Bloomberg](https://feedsoft.ai/events/6135-wheat-futures-surge-after-u-s-crop-pummeled-by-snowstorm-bloomberg.md) | +2.3% | +1.5% |
| WHEAT | 2024-05-31 | [Russia, India set to spark major swing in global wheat balance](https://feedsoft.ai/events/30288-russia-india-set-to-spark-major-swing-in-global-wheat-balance.md) | -5.3% | -10.5% |
| WHEAT | 2020-12-03 | [UK cropping intentions indicate shift back to wheat: Feed market report \| AHDB](https://feedsoft.ai/events/49710-uk-cropping-intentions-indicate-shift-back-to-wheat-feed-market-report-ahdb.md) | +9.8% | +9.8% |
| WHEAT | 2024-06-06 | [France May See Worst Wheat Damage in Years Due to Non-Stop Rain - Bloomberg](https://feedsoft.ai/events/29701-france-may-see-worst-wheat-damage-in-years-due-to-non-stop-rain-bloomberg.md) | +3.7% | -7.6% |
| KWHEAT | 2024-05-17 | [Wheat rises on Russian crop woes, but US production outlook limits gains - Markets - Business Recorder](https://feedsoft.ai/events/4593-wheat-rises-on-russian-crop-woes-but-us-production-outlook-limits-gains-markets.md) | +5.6% | -6.8% |
| KWHEAT | 2024-09-27 | [Wheat falls on demand worries, but set for weekly gain - Markets - Business Recorder](https://feedsoft.ai/events/28348-wheat-falls-on-demand-worries-but-set-for-weekly-gain-markets-business-recorder.md) | +5.6% | +1.4% |
| KWHEAT | 2025-10-03 | [Russian wheat exports start to pick up the pace \| The Western Producer](https://feedsoft.ai/events/14169-russian-wheat-exports-start-to-pick-up-the-pace-the-western-producer.md) | -1.9% | +2.8% |

## Sources

- bloomberg.com: https://www.bloomberg.com/news/articles/2024-05-20/kansas-wheat-tour-shows-crop-set-to-rescue-market-plagued-by-russia-shortfall

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