# Wheat Price Surge Threatens to Speed Up Food Inflation - TT

> Chicago wheat climbed above $8 a bushel for the first time in nearly nine years, with Paris milling wheat near an all-time high. Top importers are buying amid limited supplies after poor weather hit major exporters. Saudi Arabia's state buyer booked 1.3 million tons in a tender, nearly double expectations.

- Date: 2021-11-01 · published 2021-11-01T12:00:00.000Z
- Category: weather · region Global · magnitude high
- Page: https://feedsoft.ai/events/7314-wheat-price-surge-threatens-to-speed-up-food-inflation-tt
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Tight export supplies and strong import demand from buyers like Saudi Arabia support wheat prices, which also raise feed grain costs.

## Read by commodity

- CORN: bullish ▲
- WHEAT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2021-11-01 | 5 | +10.3% | 2.9 | Chicago wheat topped $8 on strong importer buying (Saudi tender of 1.3 Mt) amid limited exporter supplies, which is direct demand-pull and supply-tightness pressure. |
| CORN | 2021-11-01 | 1 | +4.8% | 4.3 | Wheat above $8 and strong importer buying drove cross-commodity spillover into corn and feed-grain substitution sentiment. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2020-10-23 | [Wild weather sparking food inflation](https://feedsoft.ai/events/5718-wild-weather-sparking-food-inflation.md) | -0.1% | -4.5% |
| WHEAT | 2017-07-06 | [Food Prices Near 2-Year High Thanks to a Record Surge in Butter and Wheat - Bloomberg](https://feedsoft.ai/events/6181-food-prices-near-2-year-high-thanks-to-a-record-surge-in-butter-and-wheat.md) | -1.4% | +0.3% |
| WHEAT | 2026-04-30 | [Wheat Prices Jump as Drought Threatens U.S. Output - WSJ](https://feedsoft.ai/events/19766-wheat-prices-jump-as-drought-threatens-u-s-output-wsj.md) | -3.2% | -0.6% |
| 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% |
| WHEAT | 2022-12-26 | [Severe Christmas frosts in the USA led to a speculative increase in wheat prices](https://feedsoft.ai/events/38286-severe-christmas-frosts-in-the-usa-led-to-a-speculative-increase-in-wheat-prices.md) | +0.8% | -7.2% |
| CORN | 2020-12-01 | [La Niña Threatens Price Stability \| Feed & Grain](https://feedsoft.ai/events/49573-la-nina-threatens-price-stability-feed-and-grain.md) | -0.4% | +1.4% |
| CORN | 2019-10-29 | [Midwestern Drought Threatens Crops, Food Prices](https://feedsoft.ai/events/56414-midwestern-drought-threatens-crops-food-prices.md) | +2.7% | +1.1% |
| CORN | 2024-09-20 | [FAO urges swift action as La Niña threatens global food security](https://feedsoft.ai/events/28229-fao-urges-swift-action-as-la-nina-threatens-global-food-security.md) | +0.0% | -0.9% |

## Sources

- ttnews.com: https://www.ttnews.com/articles/wheat-price-surge-threatens-speed-food-inflation

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