# Dusty wheat fields signal peak for glut | St. Clair News-Aegis

> Dry, hot weather from the U.S. to Europe is hurting crops, and the U.S. government forecasts global wheat output will fall for the first time in five seasons. Chicago wheat futures rose about 15 percent early in the year, and hedge funds cut their bearish bets.

- Date: 2017-06-26 · published 2017-06-26T12:00:00.000Z
- Category: weather · region Global · magnitude medium
- Page: https://feedsoft.ai/events/9722-dusty-wheat-fields-signal-peak-for-glut-st-clair-news-aegis
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

A forecast fall in global wheat output and reduced fund selling signal the end of the glut and support higher wheat prices for feed buyers.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-05-23 | [Hope erodes for EU wheat yields, as 'pronounced rain deficit' saps crops - Grain Price News](https://feedsoft.ai/events/41355-hope-erodes-for-eu-wheat-yields-as-pronounced-rain-deficit-saps-crops-grain.md) | -2.2% | -3.2% |
| WHEAT | 2024-04-29 | [The Latest News About the U.S. Wheat Crop](https://feedsoft.ai/events/30782-the-latest-news-about-the-u-s-wheat-crop.md) | -1.8% | +21.1% |
| WHEAT | 2019-09-27 | [Minneapolis wheat futures rally on poor spring crop - Brownfield Ag News](https://feedsoft.ai/events/57103-minneapolis-wheat-futures-rally-on-poor-spring-crop-brownfield-ag-news.md) | +0.6% | -1.3% |
| WHEAT | 2018-08-02 | [Heatwave ravages European fields, sending wheat prices soaring - Grainews](https://feedsoft.ai/events/9685-heatwave-ravages-european-fields-sending-wheat-prices-soaring-grainews.md) | +3.5% | +1.5% |
| WHEAT | 2017-06-29 | [Wheat surges on weather concerns in Plains - Brownfield Ag News](https://feedsoft.ai/events/9719-wheat-surges-on-weather-concerns-in-plains-brownfield-ag-news.md) | +2.3% | -2.9% |
| KWHEAT | 2024-04-29 | [The Latest News About the U.S. Wheat Crop](https://feedsoft.ai/events/30782-the-latest-news-about-the-u-s-wheat-crop.md) | +2.1% | +11.6% |
| KWHEAT | 2017-06-29 | [Wheat surges on weather concerns in Plains - Brownfield Ag News](https://feedsoft.ai/events/9719-wheat-surges-on-weather-concerns-in-plains-brownfield-ag-news.md) | +15.0% | +4.2% |
| KWHEAT | 2017-02-02 | [Minneapolis leads wheat complex higher - Brownfield Ag News](https://feedsoft.ai/events/8598-minneapolis-leads-wheat-complex-higher-brownfield-ag-news.md) | +0.3% | +4.5% |

## Sources

- newsaegis.com: https://newsaegis.com/2017/06/26/dusty-wheat-fields-signal-peak-for-glut/

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