# Grain prices plunge, as Canada data add to pressure from market mayhem - Grain Price News

> Statistics Canada reported 25.40 million acres planted to wheat for 2022, up over 2 million acres year on year and the largest area since 2013, including about 580,000 more acres of spring wheat than a March survey showed. Grain futures also fell as the dollar surged to its strongest level against a basket of currencies since 2002 and US Corn Belt rains improved crop prospects.

- Date: 2022-07-05 · published 2022-07-05T12:00:00.000Z
- Category: report · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/5056-grain-prices-plunge-as-canada-data-add-to-pressure-from-market-mayhem-grain
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Larger Canadian wheat supply adds bearish pressure on global wheat prices, and a stronger dollar makes US grains less affordable to foreign buyers, reinforcing the downward move.

## Read by commodity

- DXY: bullish ▲
- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2022-07-06 | 5 | -9.1% | -3.0 | Larger Canadian wheat acreage (largest since 2013) adds to global supply expectations, while the surging dollar and improved US crop prospects added to the selloff. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-04-12 | [Key data in USDA's April 11 Wasde report, and difference from market expectations - Grain Price News](https://feedsoft.ai/events/30672-key-data-in-usda-s-april-11-wasde-report-and-difference-from-market.md) | -0.7% | -0.2% |
| WHEAT | 2023-04-11 | [Key data in USDA's April 11 Wasde report, and difference from market expectations - Grain Price News](https://feedsoft.ai/events/36341-key-data-in-usda-s-april-11-wasde-report-and-difference-from-market.md) | +8.8% | -0.9% |
| WHEAT | 2023-07-13 | [Key data in USDA's July 12 Wasde report, and difference from market expectations - Grain Price News](https://feedsoft.ai/events/34984-key-data-in-usda-s-july-12-wasde-report-and-difference-from-market-expectations.md) | +3.7% | +3.6% |
| WHEAT | 2022-11-09 | [Key data in USDA's November 9 Wasde report, and difference from market expectations - Grain Price News](https://feedsoft.ai/events/38643-key-data-in-usda-s-november-9-wasde-report-and-difference-from-market.md) | +1.1% | -9.0% |
| WHEAT | 2022-10-12 | [Key data in USDA's October 12 Wasde report, and difference from market expectations - Grain Price News](https://feedsoft.ai/events/39093-key-data-in-usda-s-october-12-wasde-report-and-difference-from-market.md) | +3.6% | +4.6% |
| CORN | 2023-05-14 | [Key data in USDA's May 12 Wasde report, and difference from market expectations - Grain Price News](https://feedsoft.ai/events/35886-key-data-in-usda-s-may-12-wasde-report-and-difference-from-market-expectations.md) | -8.8% | -9.3% |
| CORN | 2024-04-12 | [Key data in USDA's April 11 Wasde report, and difference from market expectations - Grain Price News](https://feedsoft.ai/events/30672-key-data-in-usda-s-april-11-wasde-report-and-difference-from-market.md) | -0.2% | +1.2% |
| CORN | 2023-06-11 | [Key data in USDA's June 9 Wasde report, and difference from market expectations - Grain Price News](https://feedsoft.ai/events/35445-key-data-in-usda-s-june-9-wasde-report-and-difference-from-market-expectations.md) | +6.8% | -3.2% |

## Sources

- grainpricenews.com: https://grainpricenews.com/2022/07/05/wheat-canola-prices-plunge-as-canada-data-add-to-pressure-from-markets-selling-wave/

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