# Fundamental, Technical Factors Lifted U.S. Wheat Futures Prices

> U.S. Wheat Associates outlines factors behind the recent surge in U.S. wheat futures, including strong Chinese demand for U.S. soybeans, corn and wheat, managed money inflows, a Russian wheat export tax increase, and dryness in the Plains. CBOT SRW and KC HRW futures reached their highest levels in over six years by late January.

- Date: 2021-02-04 · published 2021-02-04T12:00:00.000Z
- Category: trade · region US · magnitude medium
- Page: https://feedsoft.ai/events/48674-fundamental-technical-factors-lifted-u-s-wheat-futures-prices
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Combined export demand from China and Russia's export tax support higher U.S. wheat values, pushing up wheat-based feed costs.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2018-08-26 | [Local feed prices are likely to remain firm for foreseeable future](https://feedsoft.ai/events/63606-local-feed-prices-are-likely-to-remain-firm-for-foreseeable-future.md) | +2.1% | +0.2% |
| WHEAT | 2025-10-27 | [Wheat Prices Rise As US-China Trade Hopes Lift Markets - Finimize](https://feedsoft.ai/events/5432-wheat-prices-rise-as-us-china-trade-hopes-lift-markets-finimize.md) | +3.8% | -1.8% |
| WHEAT | 2026-07-10 | [US Plains HRW Wheat-Basis flat, futures rally spurs farmer sales](https://feedsoft.ai/events/7340-us-plains-hrw-wheat-basis-flat-futures-rally-spurs-farmer-sales.md) | +0.9% | +0.6% |
| WHEAT | 2020-04-23 | [U.S. grains: Export hopes push soy, corn, wheat futures higher - Grainews](https://feedsoft.ai/events/53671-u-s-grains-export-hopes-push-soy-corn-wheat-futures-higher-grainews.md) | -1.1% | +0.1% |
| WHEAT | 2019-01-20 | [Russian wheat prices on rise \| Farm Online \| ACT](https://feedsoft.ai/events/7656-russian-wheat-prices-on-rise-farm-online-act.md) | +3.3% | +2.1% |
| KWHEAT | 2026-07-10 | [US Plains HRW Wheat-Basis flat, futures rally spurs farmer sales](https://feedsoft.ai/events/7340-us-plains-hrw-wheat-basis-flat-futures-rally-spurs-farmer-sales.md) | +11.6% | +9.0% |
| KWHEAT | 2019-01-20 | [Russian wheat prices on rise \| Farm Online \| ACT](https://feedsoft.ai/events/7656-russian-wheat-prices-on-rise-farm-online-act.md) | +0.1% | -8.9% |
| KWHEAT | 2018-01-11 | [Sustained Demand for U.S. Wheat in a New Price Environment - U.S. Wheat Associates](https://feedsoft.ai/events/67015-sustained-demand-for-u-s-wheat-in-a-new-price-environment-u-s-wheat-associates.md) | -2.5% | +7.7% |

## Sources

- uswheat.org: https://uswheat.org/wheatletter/fundamental-technical-factors-lifted-u-s-wheat-futures-prices/

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