# Price Perspectives: A Bounce from Four-Year Lows - Oklahoma Farm Report

> CBOT, KBOT and MGEX wheat futures hit four-year lows on August 26, 2024, under harvest pressure and ample exporter supplies. Prices have since rallied for several weeks on a weaker dollar, short covering and escalation of the Russia-Ukraine war.

- Date: 2024-09-19 · published 2024-09-19T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/5606-price-perspectives-a-bounce-from-four-year-lows-oklahoma-farm-report
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

The September WASDE showed major exporter output only 1% below last year despite a 20.5 MMT cut in EU, Russian and Ukrainian production, which limits the rally's fundamental support.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2024-09-24 | 5 | +11.7% | 2.8 | Wheat's multi-week bounce from four-year lows came from a weaker dollar, short covering and Russia-Ukraine escalation, so the rally was position-driven. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-09-30 | [Hard Red Winter Wheat production lowest since 1957 - Oklahoma Farm Report](https://feedsoft.ai/events/39644-hard-red-winter-wheat-production-lowest-since-1957-oklahoma-farm-report.md) | +0.4% | -10.7% |
| WHEAT | 2026-05-12 | [Lowest Hard Red Winter Wheat Production Since 1957 Highlighted in Latest WASDE Report - Oklahoma Farm Report](https://feedsoft.ai/events/19194-lowest-hard-red-winter-wheat-production-since-1957-highlighted-in-latest-wasde.md) | +2.0% | -3.2% |
| WHEAT | 2021-10-28 | [What Futures Remain Fundamentally Bullish » Trilateral - Perspectives You Can Price On](https://feedsoft.ai/events/44583-what-futures-remain-fundamentally-bullish-trilateral-perspectives-you-can-price.md) | +10.0% | +9.2% |
| WHEAT | 2021-01-01 | [FAO Food Price Index Reaches Six-Year High, But Below 2011 Peak \| Farm Policy News \| Illinois](https://feedsoft.ai/events/49180-fao-food-price-index-reaches-six-year-high-but-below-2011-peak-farm-policy-news.md) | +4.0% | +11.0% |
| WHEAT | 2018-03-05 | [Wool, wheat prices tipped to 'bounce back' after horror year](https://feedsoft.ai/events/65952-wool-wheat-prices-tipped-to-bounce-back-after-horror-year.md) | +0.8% | +0.6% |
| KWHEAT | 2022-09-30 | [Hard Red Winter Wheat production lowest since 1957 - Oklahoma Farm Report](https://feedsoft.ai/events/39644-hard-red-winter-wheat-production-lowest-since-1957-oklahoma-farm-report.md) | -0.2% | -3.6% |
| KWHEAT | 2026-05-12 | [Lowest Hard Red Winter Wheat Production Since 1957 Highlighted in Latest WASDE Report - Oklahoma Farm Report](https://feedsoft.ai/events/19194-lowest-hard-red-winter-wheat-production-since-1957-highlighted-in-latest-wasde.md) | +4.5% | -6.3% |
| KWHEAT | 2025-01-10 | [Annual Crop Production Summary & Winter Wheat Seeding Reports Published by USDA - Oklahoma Farm Report](https://feedsoft.ai/events/13124-annual-crop-production-summary-and-winter-wheat-seeding-reports-published-by.md) | -0.4% | +9.8% |

## Sources

- oklahomafarmreport.com: https://www.oklahomafarmreport.com/2024/09/19/price-perspectives-a-bounce-from-four-year-lows/

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