# Montana Ag Network: Why Wheat Markets Are At 10-Year Highs

> Drought across the Canadian Prairies, Montana and the Dakotas is tightening Northern Plains wheat supplies and pushing prices to 10-year highs. Analysts note wheat is following corn higher, and fund and Chinese buying has supported commodities broadly.

- Date: 2021-05-10 · published 2021-05-10T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/47136-montana-ag-network-why-wheat-markets-are-at-10-year-highs
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Dry Northern Plains conditions threaten spring wheat output, and wheat prices are tracking the corn rally, so feed buyers face higher costs.

## Read by commodity

- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2018-11-04 | [Wheat markets mixed during week - Agriculture News Network](https://feedsoft.ai/events/11215-wheat-markets-mixed-during-week-agriculture-news-network.md) | -4.2% | -3.1% |
| WHEAT | 2019-05-21 | [Corn climbs to 1-year peak, wheat hits 3-month high](https://feedsoft.ai/events/5628-corn-climbs-to-1-year-peak-wheat-hits-3-month-high.md) | -13.2% | -6.0% |
| WHEAT | 2021-04-21 | [Midweek Markets: Soybeans soar to seven-year highs](https://feedsoft.ai/events/6624-midweek-markets-soybeans-soar-to-seven-year-highs.md) | +4.5% | +1.7% |
| WHEAT | 2024-04-24 | [Paris wheat around 3-month highs on weather worries, short covering - Markets - Business Recorder](https://feedsoft.ai/events/12147-paris-wheat-around-3-month-highs-on-weather-worries-short-covering-markets.md) | -1.9% | +21.8% |
| WHEAT | 2024-07-05 | [French soft wheat yield seen 11% below 10-year average - Markets - Business Recorder](https://feedsoft.ai/events/29189-french-soft-wheat-yield-seen-11-below-10-year-average-markets-business-recorder.md) | +9.4% | +1.3% |
| CORN | 2019-05-21 | [Corn climbs to 1-year peak, wheat hits 3-month high](https://feedsoft.ai/events/5628-corn-climbs-to-1-year-peak-wheat-hits-3-month-high.md) | +2.4% | +10.9% |
| CORN | 2021-04-21 | [Midweek Markets: Soybeans soar to seven-year highs](https://feedsoft.ai/events/6624-midweek-markets-soybeans-soar-to-seven-year-highs.md) | +14.7% | +11.9% |
| CORN | 2020-08-19 | [Midweek Markets: Where are grain prices headed next?](https://feedsoft.ai/events/51664-midweek-markets-where-are-grain-prices-headed-next.md) | +2.3% | +8.3% |

## Sources

- ktvq.com: https://www.ktvq.com/news/montana-ag-network/montana-ag-network-why-wheat-markets-are-at-10-year-highs

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