# U.S. grains: MGEX spring wheat rallies to highest since mid-June - Country Guide

> MGEX spring wheat futures rallied for a fifth straight session on Tuesday to their highest since June 28, as wet weather lowered protein levels in northern Plains harvest. Winter wheat fell on good soil moisture and light export demand, while China granted new tariff waivers for U.S. soybean purchases of roughly 5-6 million tonnes.

- Date: 2019-09-24 · published 2019-09-24T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/57104-u-s-grains-mgex-spring-wheat-rallies-to-highest-since-mid-june-country-guide
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Quality losses in spring wheat support prices for higher-protein supplies, while China's waivers support soybean and soymeal demand.

## Read by commodity

- SOY: bullish ▲
- WHEAT: bullish ▲
- KWHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-01-19 | [U.S. grains: Wheat, corn rally to highest since December - AgCanada](https://feedsoft.ai/events/11816-u-s-grains-wheat-corn-rally-to-highest-since-december-agcanada.md) | +1.9% | -1.5% |
| WHEAT | 2019-05-17 | [U.S. grains: Corn extends rally, wheat touches six-week high - Grainews](https://feedsoft.ai/events/5631-u-s-grains-corn-extends-rally-wheat-touches-six-week-high-grainews.md) | +9.7% | +9.5% |
| WHEAT | 2021-04-23 | [U.S. grains: Corn highest since 2013 - AgCanada](https://feedsoft.ai/events/10295-u-s-grains-corn-highest-since-2013-agcanada.md) | +3.2% | -0.2% |
| WHEAT | 2023-06-22 | [U.S. grains: Soy, corn, wheat rally to multi-month highs on weather concerns \| Farmtario](https://feedsoft.ai/events/35545-u-s-grains-soy-corn-wheat-rally-to-multi-month-highs-on-weather-concerns.md) | +7.6% | -0.3% |
| WHEAT | 2024-09-25 | [U.S. grains: Wheat turns higher on Russia weather worries; soy, corn also rally - Grainews](https://feedsoft.ai/events/5609-u-s-grains-wheat-turns-higher-on-russia-weather-worries-soy-corn-also-rally.md) | +0.9% | -6.0% |
| KWHEAT | 2018-03-19 | [U.S. grains: Wheat tumbles as rains cross drought-hit Plains - Grainews](https://feedsoft.ai/events/8007-u-s-grains-wheat-tumbles-as-rains-cross-drought-hit-plains-grainews.md) | -4.1% | -4.3% |
| KWHEAT | 2016-07-14 | [U.S. grains: New forecast ends rallies - Manitoba Co-operator](https://feedsoft.ai/events/4942-u-s-grains-new-forecast-ends-rallies-manitoba-co-operator.md) | -0.2% | +1.0% |
| KWHEAT | 2017-10-20 | [Sorghum buyers go to ground as rain impacts wheat - Grain Central](https://feedsoft.ai/events/68526-sorghum-buyers-go-to-ground-as-rain-impacts-wheat-grain-central.md) | -0.2% | -2.9% |

## Sources

- country-guide.ca: https://www.country-guide.ca/daily/u-s-grains-mgex-spring-wheat-rallies-to-highest-since-mid-june/

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