# $5 wheat: U.S. market needs quality

> Oklahoma State economist Kim Anderson reports Perryton and Pond Creek forward wheat contracts stayed above $5 in March after drought spread across much of the US hard red winter area. He notes the world wheat price of $5.91 f.o.b. Black Sea may cap cash gains in the 2018/19 marketing year.

- Date: 2018-03-23 · published 2018-03-23T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/66041-5-wheat-u-s-market-needs-quality
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Dry HRW conditions support US wheat prices, but Black Sea export competition at a lower f.o.b. price could limit how far cash wheat can rise for feed buyers.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| KWHEAT | 2017-05-02 | [Cold damage pushes wheat market up](https://feedsoft.ai/events/7005-cold-damage-pushes-wheat-market-up.md) | -4.5% | -4.3% |
| KWHEAT | 2024-05-21 | [Grain market review: Wheat \| World Grain](https://feedsoft.ai/events/4592-grain-market-review-wheat-world-grain.md) | +5.0% | -13.8% |
| KWHEAT | 2026-04-22 | [Dry conditions, war ruffle U.S. wheat market \| Capital Press](https://feedsoft.ai/events/19772-dry-conditions-war-ruffle-u-s-wheat-market-capital-press.md) | +8.3% | +9.4% |
| KWHEAT | 2022-04-22 | [Rabobank: ‘The wheat market is on fire’](https://feedsoft.ai/events/41887-rabobank-the-wheat-market-is-on-fire.md) | -0.1% | +13.8% |
| KWHEAT | 2018-08-21 | [Wheat market slowly turning bullish - Brownfield Ag News](https://feedsoft.ai/events/63574-wheat-market-slowly-turning-bullish-brownfield-ag-news.md) | -8.3% | -5.7% |
| WHEAT | 2021-09-01 | [La Niña Wheat Prices And Market Volatility](https://feedsoft.ai/events/45014-la-nina-wheat-prices-and-market-volatility.md) | +1.4% | +0.8% |
| WHEAT | 2021-04-16 | [Farming News - Wheat and OSR market update](https://feedsoft.ai/events/9791-farming-news-wheat-and-osr-market-update.md) | +4.9% | +6.1% |
| WHEAT | 2024-05-21 | [Grain market review: Wheat \| World Grain](https://feedsoft.ai/events/4592-grain-market-review-wheat-world-grain.md) | -7.2% | -10.5% |

## Sources

- farmprogress.com: https://www.farmprogress.com/wheat/-5-wheat-u-s-market-needs-quality

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