# Wheat prices up from Dec. 2017 levels

> Forward contract prices for June 2018 wheat in Oklahoma and Texas have risen to about $5.25-$5.30/bu, up $1.44-$1.49 from mid-December 2017. An Oklahoma wheat tour forecast a 63 million bushel crop, well below USDA's seeded acreage estimate.

- Date: 2018-05-04 · published 2018-05-04T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/65061-wheat-prices-up-from-dec-2017-levels
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Smaller hard red winter crop and reduced Russian, Ukrainian and Australian expectations support higher wheat prices, which raises feed grain costs and supports substitution demand.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| KWHEAT | 2018-05-31 | [Weather conditions drive up prices for wheat — Latifundist.com](https://feedsoft.ai/events/65073-weather-conditions-drive-up-prices-for-wheat-latifundist-com.md) | -0.2% | -14.9% |
| KWHEAT | 2024-07-01 | [Have wheat prices peaked?](https://feedsoft.ai/events/29816-have-wheat-prices-peaked.md) | -2.4% | -5.8% |
| KWHEAT | 2017-05-02 | [Grain prices: wheat futures bounce back - 02 May 2017 Premium](https://feedsoft.ai/events/6139-grain-prices-wheat-futures-bounce-back-02-may-2017-premium.md) | -4.5% | -4.3% |
| KWHEAT | 2022-11-03 | [Wheat prices up amid war, expanding drought \| texaswheat.org](https://feedsoft.ai/events/7292-wheat-prices-up-amid-war-expanding-drought-texaswheat-org.md) | -1.1% | -4.0% |
| KWHEAT | 2024-05-14 | [Weather Developments Generate Higher Wheat Price](https://feedsoft.ai/events/10910-weather-developments-generate-higher-wheat-price.md) | -3.8% | -9.5% |
| WHEAT | 2018-05-31 | [Weather conditions drive up prices for wheat — Latifundist.com](https://feedsoft.ai/events/65073-weather-conditions-drive-up-prices-for-wheat-latifundist-com.md) | +0.2% | -2.0% |
| WHEAT | 2024-07-01 | [Have wheat prices peaked?](https://feedsoft.ai/events/29816-have-wheat-prices-peaked.md) | +6.6% | -1.3% |
| WHEAT | 2018-06-26 | [Wheat price drives up rations - Farmers Weekly](https://feedsoft.ai/events/11645-wheat-price-drives-up-rations-farmers-weekly.md) | -4.9% | -0.0% |

## Sources

- farmprogress.com: https://www.farmprogress.com/wheat/is-5-30-just-the-start-of-a-good-year-for-wheat-growers-

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