# Grain market review: Wheat | World Grain

> Wheat traders are focusing on weather, especially low moisture and cold May temperatures affecting Russia's crop. USDA's first 2024-25 projections show a larger global crop, but consumption is forecast to outpace growth.

- Date: 2024-05-21 · published 2024-05-21T12:00:00.000Z
- Category: weather · region Global · magnitude medium
- Page: https://feedsoft.ai/events/4592-grain-market-review-wheat-world-grain
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Weather-driven doubts over Russian output are supporting a rally from long-term lows, while a larger expected global crop caps the upside.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2024-05-21 | 5 | +19.2% | 6.4 | Traders focused on low moisture and cold May temperatures in Russia, supporting the weather-driven price rise. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2019-03-15 | [Grain market week in review - March 15, 2019](https://feedsoft.ai/events/6538-grain-market-week-in-review-march-15-2019.md) | +2.9% | +1.4% |
| WHEAT | 2022-09-14 | [Keeping an eye on wheat weather \| World Grain](https://feedsoft.ai/events/39520-keeping-an-eye-on-wheat-weather-world-grain.md) | +5.6% | -8.7% |
| WHEAT | 2026-01-26 | [Wheat: Cold ground, hot market: wheat prices rise](https://feedsoft.ai/events/21101-wheat-cold-ground-hot-market-wheat-prices-rise.md) | +2.3% | +5.5% |
| WHEAT | 2023-11-16 | [Rains taking toll on EU soft wheat area \| World Grain](https://feedsoft.ai/events/33133-rains-taking-toll-on-eu-soft-wheat-area-world-grain.md) | +3.7% | +0.5% |
| WHEAT | 2021-11-29 | [Wheat Markets Find New Legs in Australia - Alberta Grains](https://feedsoft.ai/events/44081-wheat-markets-find-new-legs-in-australia-alberta-grains.md) | -1.1% | -3.5% |
| KWHEAT | 2022-09-14 | [Keeping an eye on wheat weather \| World Grain](https://feedsoft.ai/events/39520-keeping-an-eye-on-wheat-weather-world-grain.md) | +2.0% | +5.0% |
| KWHEAT | 2026-01-26 | [Wheat: Cold ground, hot market: wheat prices rise](https://feedsoft.ai/events/21101-wheat-cold-ground-hot-market-wheat-prices-rise.md) | +0.7% | +3.6% |
| KWHEAT | 2021-11-29 | [Wheat Markets Find New Legs in Australia - Alberta Grains](https://feedsoft.ai/events/44081-wheat-markets-find-new-legs-in-australia-alberta-grains.md) | -5.0% | -2.1% |

## Sources

- world-grain.com: https://www.world-grain.com/articles/20010-grain-market-review-wheat

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