# U.S. grains: Chicago wheat above $5 on U.S., Canadian concerns - Manitoba Co-operator

> Chicago wheat futures closed above $5 a bushel on June 30, the first time in a year, as spring wheat supply concerns deepened. USDA cut its U.S. spring wheat planting estimate to 10.9 million acres, below both March intentions and trade expectations, and analysts flagged drought in the northern Plains. Minneapolis spring wheat hit a three-year high, rising about 34% in June.

- Date: 2017-06-30 · published 2017-06-30T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/70513-u-s-grains-chicago-wheat-above-5-on-u-s-canadian-concerns-manitoba-co-operator
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A smaller spring wheat crop and high-protein shortfall tighten supplies and support wheat prices, raising feed-grain alternatives' relative value. Soybeans and corn also firmed, lifting feed ingredient costs.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-03-09 | [U.S. grains: Wheat and soy climb, corn sags after USDA data - Manitoba Co-operator](https://feedsoft.ai/events/48067-u-s-grains-wheat-and-soy-climb-corn-sags-after-usda-data-manitoba-co-operator.md) | -0.2% | -0.4% |
| WHEAT | 2017-01-12 | [U.S. farmers cut winter wheat acres to 108-year low - Manitoba Co-operator](https://feedsoft.ai/events/72943-u-s-farmers-cut-winter-wheat-acres-to-108-year-low-manitoba-co-operator.md) | +0.9% | +5.3% |
| WHEAT | 2024-07-02 | [Canadian wheat and barley areas fall: Grain market daily](https://feedsoft.ai/events/29320-canadian-wheat-and-barley-areas-fall-grain-market-daily.md) | +8.9% | +0.6% |
| WHEAT | 2024-06-28 | [Canadian wheat and barley areas fall: Grain market daily \| AHDB](https://feedsoft.ai/events/29833-canadian-wheat-and-barley-areas-fall-grain-market-daily-ahdb.md) | -2.2% | +3.1% |
| WHEAT | 2022-09-30 | [GRAINS-Wheat Soars on U.S. Output Cuts, Russian Annexation of Ukraine Land](https://feedsoft.ai/events/39603-grains-wheat-soars-on-u-s-output-cuts-russian-annexation-of-ukraine-land.md) | +0.4% | -10.7% |
| KWHEAT | 2017-01-12 | [U.S. farmers cut winter wheat acres to 108-year low - Manitoba Co-operator](https://feedsoft.ai/events/72943-u-s-farmers-cut-winter-wheat-acres-to-108-year-low-manitoba-co-operator.md) | +2.4% | +4.5% |
| KWHEAT | 2022-09-30 | [GRAINS-Wheat Soars on U.S. Output Cuts, Russian Annexation of Ukraine Land](https://feedsoft.ai/events/39603-grains-wheat-soars-on-u-s-output-cuts-russian-annexation-of-ukraine-land.md) | -0.2% | -3.6% |
| KWHEAT | 2018-06-12 | [U.S. grains: Wheat surges after USDA cuts Russian output estimate - Grainews](https://feedsoft.ai/events/64555-u-s-grains-wheat-surges-after-usda-cuts-russian-output-estimate-grainews.md) | -6.6% | -9.5% |

## Sources

- manitobacooperator.ca: https://www.manitobacooperator.ca/daily/u-s-grains-chicago-wheat-above-5-on-u-s-canadian-concerns/

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