# U.S. grains: Spring wheat futures top US$7 on weather worries - Grainews

> U.S. spring wheat futures on MGEX rose 3.4% on June 28 to top $7 a bushel for the first time in nearly three years. Crop conditions in the northern Plains deteriorated sharply over the past month due to hot, dry weather, while Midwest rains weighed on corn.

- Date: 2017-06-28 · published 2017-06-28T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/70514-u-s-grains-spring-wheat-futures-top-us-7-on-weather-worries-grainews
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Poor northern Plains spring wheat conditions reduce premium high-protein supply, supporting wheat prices and feed substitution costs. Beneficial Midwest rains provided a bearish offset for corn.

## Read by commodity

- CORN: bearish ▼
- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2017-06-29 | [U.S. grains: Spring wheat sets three-year top on weather woes \| Farmtario](https://feedsoft.ai/events/70516-u-s-grains-spring-wheat-sets-three-year-top-on-weather-woes-farmtario.md) | +2.3% | -2.9% |
| WHEAT | 2018-05-17 | [GRAINS-U.S. wheat futures rise on world weather woes, corn; soy flat](https://feedsoft.ai/events/10915-grains-u-s-wheat-futures-rise-on-world-weather-woes-corn-soy-flat.md) | +4.3% | +3.0% |
| WHEAT | 2019-05-30 | [U.S. grains: Wheat, corn, soy rally on weather woes - Grainews](https://feedsoft.ai/events/9307-u-s-grains-wheat-corn-soy-rally-on-weather-woes-grainews.md) | +9.6% | +16.2% |
| WHEAT | 2024-09-25 | [U.S. grains: Wheat turns higher on Russia weather worries; soy, corn also rally - Grainews](https://feedsoft.ai/events/5609-u-s-grains-wheat-turns-higher-on-russia-weather-worries-soy-corn-also-rally.md) | +0.9% | -6.0% |
| WHEAT | 2021-03-06 | [U.S. grains: Soy futures rally on dry Argentina weather - Grainews](https://feedsoft.ai/events/8633-u-s-grains-soy-futures-rally-on-dry-argentina-weather-grainews.md) | -2.8% | -2.7% |
| KWHEAT | 2017-06-29 | [U.S. grains: Spring wheat sets three-year top on weather woes \| Farmtario](https://feedsoft.ai/events/70516-u-s-grains-spring-wheat-sets-three-year-top-on-weather-woes-farmtario.md) | +15.0% | +4.2% |
| KWHEAT | 2017-05-03 | [U.S. grains: Wheat futures flat as damage assessed - Grainews](https://feedsoft.ai/events/7002-u-s-grains-wheat-futures-flat-as-damage-assessed-grainews.md) | -6.1% | -5.1% |
| KWHEAT | 2024-04-22 | [U.S. grains: Wheat futures rally as weather risks rattle markets - AgCanada](https://feedsoft.ai/events/12140-u-s-grains-wheat-futures-rally-as-weather-risks-rattle-markets-agcanada.md) | +11.1% | +13.8% |

## Sources

- grainews.ca: https://www.grainews.ca/daily/u-s-grains-spring-wheat-futures-top-us7-on-weather-worries/

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