# Wheat drops 3% as dollar hits 2018 peak

> Wheat futures fell about 3% in US trade, reaching their lowest in several sessions as the dollar index hit a 2018 high. Traders priced in improved US weather and rainfall forecasts, and USDA reported weekly wheat sales of 234.8 thousand tonnes with Mexico the top buyer.

- Date: 2018-05-07 · published 2018-05-07T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/7882-wheat-drops-3-as-dollar-hits-2018-peak
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger dollar makes US wheat less competitive in export markets and, combined with better weather, pressures wheat prices lower.

## Read by commodity

- DXY: bullish ▲
- WHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2018-05-07 | 1 | -2.7% | -4.1 | Directly describes the ~3% wheat drop on 2018-05-07 as the dollar hit a 2018 high and US weather and rainfall forecasts improved, which hurts export competitiveness and eases crop concerns. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2026-10-27 | [Wheat Prices Slip As A Stronger Dollar Tests Exports - Finimize](https://feedsoft.ai/events/455-wheat-prices-slip-as-a-stronger-dollar-tests-exports-finimize.md) | -0.2% | — |
| WHEAT | 2017-10-27 | [U.S. grains: Wheat futures sink as dollar rallies - Grainews](https://feedsoft.ai/events/68496-u-s-grains-wheat-futures-sink-as-dollar-rallies-grainews.md) | -4.0% | -5.9% |
| WHEAT | 2024-11-14 | [Rising dollar and rain forecasts weigh on US wheat](https://feedsoft.ai/events/27444-rising-dollar-and-rain-forecasts-weigh-on-us-wheat.md) | -0.5% | +0.2% |
| WHEAT | 2024-11-26 | [Paris wheat drops - Markets - Business Recorder](https://feedsoft.ai/events/11781-paris-wheat-drops-markets-business-recorder.md) | -0.1% | +2.1% |
| WHEAT | 2024-02-05 | [Soybeans, Wheat and Corn Pushed Down by Strong Dollar \| February 5, 2024](https://feedsoft.ai/events/7197-soybeans-wheat-and-corn-pushed-down-by-strong-dollar-february-5-2024.md) | -1.3% | -9.3% |
| DXY | 2023-12-20 | [Dollar higher as big UK inflation drop hits pound](https://feedsoft.ai/events/32948-dollar-higher-as-big-uk-inflation-drop-hits-pound.md) | -0.8% | +1.0% |
| DXY | 2026-09-30 | [Australian Dollar Hits 8-week Low](https://feedsoft.ai/events/17721-australian-dollar-hits-8-week-low.md) | -0.1% | +0.7% |
| DXY | 2026-03-27 | [Japanese yen hits 160 per dollar, weakest since July 2024](https://feedsoft.ai/events/20402-japanese-yen-hits-160-per-dollar-weakest-since-july-2024.md) | +0.1% | -1.4% |

## Sources

- economies.com: https://www.economies.com/commodities/wheat-news/wheat-drops-3-as-dollar-hits-2018-peak-22964

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