# Sharp rally for wheat futures | VIC

> Australian wheat futures staged a sharp rally in the last week of July, with US prices near limit up and reaching levels close to May highs. Australian old-season wheat hit A$400 per tonne on the east coast. Further EU and Black Sea production cuts and Ukrainian and southern Russian harvest rain damage added pressure.

- Date: 2018-07-31 · published 2018-07-31T12:00:00.000Z
- Category: weather · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/64074-sharp-rally-for-wheat-futures-vic
- Commodities: [Barley](https://feedsoft.ai/c/BARLEY.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Lower Black Sea and EU output plus Australian seasonal tightness support higher wheat prices, raising feed grain costs in import markets.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| KWHEAT | 2018-03-07 | [Impressive rally for US wheat \| VIC](https://feedsoft.ai/events/12432-impressive-rally-for-us-wheat-vic.md) | -4.2% | -8.2% |
| KWHEAT | 2018-05-23 | [CBOT wheat futures rally on technical buying](https://feedsoft.ai/events/10918-cbot-wheat-futures-rally-on-technical-buying.md) | +0.0% | -9.6% |
| KWHEAT | 2018-05-18 | [GRAINS-U.S. wheat futures rally; corn, soy firm on hopes for export deal](https://feedsoft.ai/events/10916-grains-u-s-wheat-futures-rally-corn-soy-firm-on-hopes-for-export-deal.md) | +5.8% | +0.1% |
| KWHEAT | 2018-03-01 | [U.S. grains: Wheat, soybean futures rally - Manitoba Co-operator](https://feedsoft.ai/events/12431-u-s-grains-wheat-soybean-futures-rally-manitoba-co-operator.md) | +2.5% | -9.3% |
| KWHEAT | 2018-03-02 | [Wheat futures surge - Grain Central](https://feedsoft.ai/events/12430-wheat-futures-surge-grain-central.md) | -2.1% | -12.0% |
| WHEAT | 2018-03-07 | [Impressive rally for US wheat \| VIC](https://feedsoft.ai/events/12432-impressive-rally-for-us-wheat-vic.md) | -0.2% | -0.3% |
| WHEAT | 2018-05-23 | [CBOT wheat futures rally on technical buying](https://feedsoft.ai/events/10918-cbot-wheat-futures-rally-on-technical-buying.md) | -0.0% | -2.3% |
| WHEAT | 2018-05-18 | [GRAINS-U.S. wheat futures rally; corn, soy firm on hopes for export deal](https://feedsoft.ai/events/10916-grains-u-s-wheat-futures-rally-corn-soy-firm-on-hopes-for-export-deal.md) | +4.1% | +2.4% |

## Sources

- stockandland.com.au: https://www.stockandland.com.au/story/5557510/sharp-rally-for-wheat-futures/

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