# CBOT weekly outlook: MGEX wheat spread widens over winter wheats - AgCanada

> Hot, dry weather in the northern US and Canadian Prairies has widened the premium of Minneapolis spring wheat over Kansas City hard red winter wheat to nearly $2 a bushel, the largest since 2017. Forecasts show no significant rain, and spring wheat is trading near $8 a bushel.

- Date: 2021-06-23 · published 2021-06-23T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/46623-cbot-weekly-outlook-mgex-wheat-spread-widens-over-winter-wheats-agcanada
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Expected loss of spring wheat yield and protein supports the premium, tightening high-protein milling supplies and lifting spring wheat prices relative to winter classes.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2023-07-27 | [Feed weekly outlook: wheat, barley prices still on the rise  - AgCanada](https://feedsoft.ai/events/12891-feed-weekly-outlook-wheat-barley-prices-still-on-the-rise-agcanada.md) | +0.0% | -2.0% |
| WHEAT | 2021-07-30 | [Feed weekly outlook: Reduced yields starting to become a reality  - AgCanada](https://feedsoft.ai/events/46130-feed-weekly-outlook-reduced-yields-starting-to-become-a-reality-agcanada.md) | +1.6% | +2.4% |
| WHEAT | 2021-02-17 | [U.S. grains: Wheat climbs to one-week high on frigid U.S. weather - AgCanada](https://feedsoft.ai/events/9252-u-s-grains-wheat-climbs-to-one-week-high-on-frigid-u-s-weather-agcanada.md) | +0.8% | -0.3% |
| WHEAT | 2024-04-22 | [U.S. grains: Wheat futures rally as weather risks rattle markets - AgCanada](https://feedsoft.ai/events/12140-u-s-grains-wheat-futures-rally-as-weather-risks-rattle-markets-agcanada.md) | +0.4% | +1.5% |
| WHEAT | 2019-07-29 | [U.S. grains: Wheat rises as dry weather curbs Russian output; corn firm - AgCanada](https://feedsoft.ai/events/58150-u-s-grains-wheat-rises-as-dry-weather-curbs-russian-output-corn-firm-agcanada.md) | +0.7% | -1.2% |
| KWHEAT | 2023-01-31 | [Canada Know-Risk Market Outlook \| US HRW Wheat Ratings Improve](https://feedsoft.ai/events/37824-canada-know-risk-market-outlook-us-hrw-wheat-ratings-improve.md) | +0.3% | -6.6% |
| KWHEAT | 2019-04-03 | [U.S. grains: Improving weather view weighs on wheat - AgCanada](https://feedsoft.ai/events/59643-u-s-grains-improving-weather-view-weighs-on-wheat-agcanada.md) | -1.3% | -10.2% |
| KWHEAT | 2018-04-16 | [CBOT wheat follows K.C. hard red winter wheat lower](https://feedsoft.ai/events/65544-cbot-wheat-follows-k-c-hard-red-winter-wheat-lower.md) | -2.6% | +1.2% |

## Sources

- agcanada.com: https://www.agcanada.com/daily/cbot-weekly-outlook-mgex-wheat-spread-widens-over-winter-wheats

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