# Wheat prices have started to recover thanks to the speculators

> Wheat prices recovered after the May USDA report had pushed them down, as speculators covered shorts after Chicago soft wheat hit a two-month low. Strategie Grains cut its 2020/21 EU wheat forecast to 132.9 million tonnes and its EU corn estimate to 65.9 million tonnes. Drought in parts of Europe and a Tunisian tender purchase also supported prices.

- Date: 2020-05-15 · published 2020-05-15T12:00:00.000Z
- Category: weather · region EU · magnitude low
- Page: https://feedsoft.ai/events/53181-wheat-prices-have-started-to-recover-thanks-to-the-speculators
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

Lower EU wheat and corn crop estimates tighten European feed-grain supply, supporting prices, though the rebound is largely speculative and may be short-lived.

## Read by commodity

- CORN: bullish ▲
- WHEAT: bullish ▲
- BARLEY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-10-26 | [Global wheat prices started the week with rapid growth](https://feedsoft.ai/events/44581-global-wheat-prices-started-the-week-with-rapid-growth.md) | +10.4% | +9.4% |
| WHEAT | 2024-07-01 | [Have wheat prices peaked?](https://feedsoft.ai/events/29816-have-wheat-prices-peaked.md) | +6.6% | -1.3% |
| WHEAT | 2022-12-26 | [Severe Christmas frosts in the USA led to a speculative increase in wheat prices](https://feedsoft.ai/events/38286-severe-christmas-frosts-in-the-usa-led-to-a-speculative-increase-in-wheat-prices.md) | +0.8% | -7.2% |
| WHEAT | 2017-07-06 | [Food Prices Near 2-Year High Thanks to a Record Surge in Butter and Wheat - Bloomberg](https://feedsoft.ai/events/6181-food-prices-near-2-year-high-thanks-to-a-record-surge-in-butter-and-wheat.md) | -1.4% | +0.3% |
| 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% |
| CORN | 2021-10-26 | [Global wheat prices started the week with rapid growth](https://feedsoft.ai/events/44581-global-wheat-prices-started-the-week-with-rapid-growth.md) | +8.0% | +9.6% |
| CORN | 2021-11-01 | [Wheat Price Surge Threatens to Speed Up Food Inflation - TT](https://feedsoft.ai/events/7314-wheat-price-surge-threatens-to-speed-up-food-inflation-tt.md) | +1.6% | +3.4% |
| CORN | 2018-05-29 | [Wheat prices are rising because of the hot and dry weather](https://feedsoft.ai/events/65065-wheat-prices-are-rising-because-of-the-hot-and-dry-weather.md) | -3.7% | -9.3% |

## Sources

- graintrade.com.ua: https://graintrade.com.ua/en/novosti/tcini-na-pshenitcyu-pochali-vidnovlyuvatisya-zavdyaki-spekulyantam.html

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