# Wheat prices catch fire | Farm Online | ACT

> Australian wheat prices rallied, with new-season APW wheat rising above A$300 a tonne for the first time in over a year. A USDA report showed the US planted its smallest wheat area since 1919, and Chicago and Kansas futures hit limit-up gains of 30 cents a bushel. Hot, dry conditions in northern US producing states and dryness in Europe added to the rally, while Australian crops remain poor.

- Date: 2017-07-05 · published 2017-07-05T12:00:00.000Z
- Category: report · region Australia · magnitude high
- Page: https://feedsoft.ai/events/6182-wheat-prices-catch-fire-farm-online-act
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

A smaller US planted area and weather risk across major exporters tighten global wheat supplies and lift export prices. Australian feed buyers should expect higher wheat costs.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2020-10-07 | [Wheat price rally as US futures hit highs \| Farm Online \| ACT](https://feedsoft.ai/events/11632-wheat-price-rally-as-us-futures-hit-highs-farm-online-act.md) | +0.4% | -0.1% |
| WHEAT | 2020-02-18 | [ABARES announces further cuts to wheat crop \| Farm Online \| ACT](https://feedsoft.ai/events/54571-abares-announces-further-cuts-to-wheat-crop-farm-online-act.md) | -0.9% | -0.1% |
| WHEAT | 2019-07-15 | [Global crop estimates down \| Farm Online \| ACT](https://feedsoft.ai/events/58041-global-crop-estimates-down-farm-online-act.md) | -0.5% | -3.1% |
| WHEAT | 2018-08-13 | [No surprises in USDA report \| Farm Online \| ACT](https://feedsoft.ai/events/63483-no-surprises-in-usda-report-farm-online-act.md) | -1.8% | +3.1% |
| WHEAT | 2018-12-06 | [Wheat prices: locked and loaded](https://feedsoft.ai/events/61614-wheat-prices-locked-and-loaded.md) | -0.1% | +1.5% |
| KWHEAT | 2019-07-15 | [Global crop estimates down \| Farm Online \| ACT](https://feedsoft.ai/events/58041-global-crop-estimates-down-farm-online-act.md) | -4.6% | -9.6% |
| KWHEAT | 2018-08-13 | [No surprises in USDA report \| Farm Online \| ACT](https://feedsoft.ai/events/63483-no-surprises-in-usda-report-farm-online-act.md) | +0.9% | -10.0% |
| KWHEAT | 2018-12-06 | [Wheat prices: locked and loaded](https://feedsoft.ai/events/61614-wheat-prices-locked-and-loaded.md) | 0.0% | +4.6% |

## Sources

- farmonline.com.au: https://www.farmonline.com.au/story/4772097/wheat-prices-catch-fire/

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