# Wheat rises on Russian crop woes, but US production outlook limits gains - Markets - Business Recorder

> Chicago wheat rose after reaching a nearly 10-month high earlier in the week, with Russian frost damage and Brazilian flooding supporting prices. Expectations of a large US crop limited gains, and Kansas scouts projected above-average yields.

- Date: 2024-05-17 · published 2024-05-17T12:00:00.000Z
- Category: weather · region Russia · magnitude medium
- Page: https://feedsoft.ai/events/4593-wheat-rises-on-russian-crop-woes-but-us-production-outlook-limits-gains-markets
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Frost and flooding threaten supplies from major exporters, supporting prices, but a bumper US crop limits how far wheat can rally.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-08-29 | [EU wheat rises on poor French, German crop outlook, weaker euro - Markets - Business Recorder](https://feedsoft.ai/events/28711-eu-wheat-rises-on-poor-french-german-crop-outlook-weaker-euro-markets-business.md) | +4.6% | +15.4% |
| WHEAT | 2024-09-23 | [Chicago wheat rises on global crop concern - Markets - Business Recorder](https://feedsoft.ai/events/5608-chicago-wheat-rises-on-global-crop-concern-markets-business-recorder.md) | +11.3% | +5.5% |
| WHEAT | 2024-03-25 | [Wheat hits 3-week high on French crop worries - Markets - Business Recorder](https://feedsoft.ai/events/31240-wheat-hits-3-week-high-on-french-crop-worries-markets-business-recorder.md) | -0.6% | +1.9% |
| WHEAT | 2021-02-16 | [US MIDDAY: Wheat climbs - Markets - Business Recorder](https://feedsoft.ai/events/9256-us-midday-wheat-climbs-markets-business-recorder.md) | +1.3% | +0.2% |
| WHEAT | 2024-09-26 | [Soybeans rise for fourth session on Brazilian weather woes - Markets - Business Recorder](https://feedsoft.ai/events/28339-soybeans-rise-for-fourth-session-on-brazilian-weather-woes-markets-business.md) | +1.0% | -6.2% |
| 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 | 2025-02-18 | [Wheat eases from 4-month highs, soybean flat - Markets - Business Recorder](https://feedsoft.ai/events/26078-wheat-eases-from-4-month-highs-soybean-flat-markets-business-recorder.md) | -4.0% | -2.5% |
| KWHEAT | 2017-04-05 | [Wheat production likely to be lower](https://feedsoft.ai/events/71542-wheat-production-likely-to-be-lower.md) | +1.9% | +6.8% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40303919

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