# Global Heat Wave Toasts Wheat and Prices Soar

> Global wheat prices rose to multiyear highs as a heat wave across Europe and Asia cut harvest forecasts. Chicago wheat futures hit three-year highs and a European benchmark topped a four-year high, with Paris milling wheat up 33% year to date.

- Date: 2018-08-04 · published 2018-08-04T12:00:00.000Z
- Category: weather · region Global · magnitude high
- Page: https://feedsoft.ai/events/9684-global-heat-wave-toasts-wheat-and-prices-soar
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

Lower crop forecasts tighten world wheat supply and raise the cost of wheat used in animal feed, pushing feed prices higher in affected regions.

## Read by commodity

- WHEAT: bullish ▲
- BARLEY: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2018-08-06 | 1 | +3.6% | 3.6 | Heat wave cutting European and Asian harvest forecasts pushed Chicago wheat to three-year highs, a supply shock consistent with a large move into Aug 6. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-05-13 | [A"maize"ing global support for wheat prices \| The Land \| NSW](https://feedsoft.ai/events/47137-a-maize-ing-global-support-for-wheat-prices-the-land-nsw.md) | -1.8% | -4.6% |
| WHEAT | 2022-03-23 | [Canadian farmers face drought threat as global wheat, canola prices soar](https://feedsoft.ai/events/42232-canadian-farmers-face-drought-threat-as-global-wheat-canola-prices-soar.md) | +1.3% | -9.2% |
| WHEAT | 2021-09-08 | [FEATURE: Rising wheat prices make pasta and bread expensive \| S&P Global](https://feedsoft.ai/events/45097-feature-rising-wheat-prices-make-pasta-and-bread-expensive-s-and-p-global.md) | +2.2% | +5.0% |
| WHEAT | 2024-05-09 | [Wheat Prices Have Soared on Global Conflict, Extreme Weather - Markets Insider](https://feedsoft.ai/events/30292-wheat-prices-have-soared-on-global-conflict-extreme-weather-markets-insider.md) | +2.0% | +6.5% |
| WHEAT | 2024-07-01 | [Have wheat prices peaked?](https://feedsoft.ai/events/29816-have-wheat-prices-peaked.md) | +6.6% | -1.3% |

## Sources

- wsj.com: https://www.wsj.com/articles/global-heat-wave-toasts-wheat-and-prices-soar-1533391201

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