# WHEAT SCOOPS: Down 50 cents and still a good price

> An Oklahoma State University analyst notes that forward contracts for June/July 2021 delivery of wheat were around $6 a bushel in mid-March, down from $6.51 in February but well above $4.25 a year earlier. Possible upside drivers include lower Plains production, reduced Russia/Ukraine crops, and weaker world output. Freeze damage and the spring weather outlook for the hard red winter crop are being watched.

- Date: 2021-03-18 · published 2021-03-18T12:00:00.000Z
- Category: weather · region US · magnitude low
- Page: https://feedsoft.ai/events/48159-wheat-scoops-down-50-cents-and-still-a-good-price
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Harvest-delivery price expectations near $6 reflect firm HRW supply concerns that keep wheat costs elevated for feed users. A weather-driven crop cut would support prices, while a benign season would keep pressure on values.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| KWHEAT | 2021-04-26 | [WHEAT SCOOPS: Harvest contract cash wheat prices $5.50-$6.50](https://feedsoft.ai/events/9792-wheat-scoops-harvest-contract-cash-wheat-prices-5-50-6-50.md) | +3.7% | -7.3% |
| KWHEAT | 2020-10-01 | [Wheat price increases 34 cents in one day](https://feedsoft.ai/events/8789-wheat-price-increases-34-cents-in-one-day.md) | +6.8% | +6.6% |
| KWHEAT | 2024-05-14 | [Weather Developments Generate Higher Wheat Price](https://feedsoft.ai/events/10910-weather-developments-generate-higher-wheat-price.md) | -3.8% | -9.5% |
| KWHEAT | 2021-07-23 | [How High Will Minneapolis Wheat Prices Go?](https://feedsoft.ai/events/46135-how-high-will-minneapolis-wheat-prices-go.md) | +3.2% | +9.4% |
| KWHEAT | 2026-03-31 | [Wheat Prices Surge on US Drought and Planting Uncertainty](https://feedsoft.ai/events/20207-wheat-prices-surge-on-us-drought-and-planting-uncertainty.md) | -3.0% | +11.3% |
| WHEAT | 2021-04-26 | [WHEAT SCOOPS: Harvest contract cash wheat prices $5.50-$6.50](https://feedsoft.ai/events/9792-wheat-scoops-harvest-contract-cash-wheat-prices-5-50-6-50.md) | +3.3% | -0.2% |
| WHEAT | 2018-08-04 | [Global Heat Wave Toasts Wheat and Prices Soar](https://feedsoft.ai/events/9684-global-heat-wave-toasts-wheat-and-prices-soar.md) | +2.9% | +1.6% |
| WHEAT | 2017-08-08 | [Wheat production forecast down: NAB - Grain Central](https://feedsoft.ai/events/69415-wheat-production-forecast-down-nab-grain-central.md) | +0.5% | -0.8% |

## Sources

- farmprogress.com: https://www.farmprogress.com/wheat/wheat-scoops-down-50-cents-and-still-a-good-price

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