# Confluence of bullish news sends wheat futures higher - AgCanada

> Chicago, Kansas City and Minneapolis wheat futures posted double-digit gains to start the week, with winter wheat hitting its best levels since summer. Drivers cited include dryness in Australia and Argentina, Argentina's export tax increase, Texas drought, and improving US-China and USMCA trade sentiment. Wet seeding conditions limited US winter wheat plantings, and harvest weather hurt North Dakota spring wheat quality.

- Date: 2019-12-17 · published 2019-12-17T12:00:00.000Z
- Category: weather · region North America · magnitude medium
- Page: https://feedsoft.ai/events/6296-confluence-of-bullish-news-sends-wheat-futures-higher-agcanada
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

Multiple supply concerns from major exporters and weaker US crops tighten wheat supplies and support prices. Analysts expect further upside.

## Read by commodity

- WHEAT: bullish ▲
- BARLEY: neutral
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2016-07-14 | [Bullish weather outlook drives futures higher](https://feedsoft.ai/events/4943-bullish-weather-outlook-drives-futures-higher.md) | +0.7% | +1.0% |
| WHEAT | 2024-04-23 | [Higher Wheat Futures on Weather - ADM Investor Services](https://feedsoft.ai/events/12143-higher-wheat-futures-on-weather-adm-investor-services.md) | -1.3% | +22.1% |
| WHEAT | 2024-05-06 | [U.S. grains: Wheat, soy, corn futures extend surge on volatile global weather - AgCanada](https://feedsoft.ai/events/11627-u-s-grains-wheat-soy-corn-futures-extend-surge-on-volatile-global-weather.md) | +2.2% | +13.7% |
| WHEAT | 2025-01-29 | [U.S. grains: Corn futures hit over one-year high on Argentine weather worries - AgCanada](https://feedsoft.ai/events/6889-u-s-grains-corn-futures-hit-over-one-year-high-on-argentine-weather-worries.md) | +0.6% | +1.4% |
| 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% |
| KWHEAT | 2024-04-23 | [Higher Wheat Futures on Weather - ADM Investor Services](https://feedsoft.ai/events/12143-higher-wheat-futures-on-weather-adm-investor-services.md) | +7.7% | +16.6% |
| KWHEAT | 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) | +8.0% | +4.3% |
| KWHEAT | 2017-02-02 | [Minneapolis leads wheat complex higher - Brownfield Ag News](https://feedsoft.ai/events/8598-minneapolis-leads-wheat-complex-higher-brownfield-ag-news.md) | +0.3% | +4.5% |

## Sources

- agcanada.com: https://www.agcanada.com/daily/confluence-of-bullish-news-sends-wheat-futures-higher

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