# Wheat Futures Surge on Russian Crop Worries -- Daily Grain Highlights

> July CBOT wheat rose 5.8% to $6.88 a bushel on May 20 amid escalating Russia-Ukraine fighting and weather problems in their winter crops. Ukrainian drones attacked the Russian grain port of Novorossiysk, and corn and soybeans also gained.

- Date: 2024-05-20 · published 2024-05-20T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude high
- Page: https://feedsoft.ai/events/4597-wheat-futures-surge-on-russian-crop-worries-daily-grain-highlights
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Attacks on Black Sea export infrastructure combined with crop weather issues raise supply risk and support global wheat and feed grain prices.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2024-05-20 | 1 | +12.8% | 10.4 | Reports July CBOT wheat up 5.8% on May 20 on Russian crop worries and Ukrainian drone attacks on Novorossiysk, combining supply-shortfall and Black Sea trade-flow risk premium. |
| WHEAT | 2024-05-21 | 5 | +19.2% | 6.4 | July CBOT wheat jumped 5.8% on May 20 on Russian crop worries and Ukrainian drone strikes on Novorossiysk, driving a large share of the 5-day gain. |
| CORN | 2024-05-27 | 1 | +2.9% | 3.0 | Wheat surged on Russia-Ukraine fighting and crop weather problems, with corn also gaining in sympathy as feed-grain substitution and geopolitical risk lifted the complex, though the event predates the May 27 move by a week. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-06-09 | [Wheat futures surge after Russia strikes Ukrainian grain terminal - Fastmarkets](https://feedsoft.ai/events/40980-wheat-futures-surge-after-russia-strikes-ukrainian-grain-terminal-fastmarkets.md) | +1.2% | -8.1% |
| WHEAT | 2022-03-03 | [Russia-Ukraine conflict highlights wheat supply vulnerability](https://feedsoft.ai/events/42306-russia-ukraine-conflict-highlights-wheat-supply-vulnerability.md) | +4.9% | +19.4% |
| WHEAT | 2023-02-10 | [U.S. Wheat Futures Jump on Ukraine, Russia Shipment Concerns](https://feedsoft.ai/events/37376-u-s-wheat-futures-jump-on-ukraine-russia-shipment-concerns.md) | -2.5% | -9.0% |
| WHEAT | 2025-12-22 | [U.S. grains: Wheat leads grains higher with Russian strikes in focus - Grainews](https://feedsoft.ai/events/21539-u-s-grains-wheat-leads-grains-higher-with-russian-strikes-in-focus-grainews.md) | +0.6% | -0.3% |
| WHEAT | 2023-11-22 | [Wheat prices jump as Russia targets Ukrainian grain supplies](https://feedsoft.ai/events/12252-wheat-prices-jump-as-russia-targets-ukrainian-grain-supplies.md) | -0.4% | -1.2% |
| CORN | 2023-02-10 | [U.S. Wheat Futures Jump on Ukraine, Russia Shipment Concerns](https://feedsoft.ai/events/37376-u-s-wheat-futures-jump-on-ukraine-russia-shipment-concerns.md) | -0.6% | -6.0% |
| CORN | 2022-11-01 | [Wheat futures tumble after Russia rejoins Black Sea grain corridor deal - Fastmarkets](https://feedsoft.ai/events/7290-wheat-futures-tumble-after-russia-rejoins-black-sea-grain-corridor-deal.md) | +0.0% | -2.8% |
| CORN | 2025-12-22 | [U.S. grains: Wheat leads grains higher with Russian strikes in focus - Grainews](https://feedsoft.ai/events/21539-u-s-grains-wheat-leads-grains-higher-with-russian-strikes-in-focus-grainews.md) | -0.6% | -3.4% |

## Sources

- marketscreener.com: https://www.marketscreener.com/quote/future/WHEAT-FUTURE-ZW-CBE-C1-16218/news/Wheat-Futures-Surge-on-Russian-Crop-Worries-Daily-Grain-Highlights-46776191/

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