# Wheat prices sink nearly three percent

> Wheat futures fell nearly 3% in US trade as the dollar index rose to an eight-month high. Stronger US manufacturing PMI data for October was also reported.

- Date: 2016-10-24 · published 2016-10-24T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/10539-wheat-prices-sink-nearly-three-percent
- 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 more expensive for overseas buyers, which weighs on export demand and futures prices.

## Read by commodity

- DXY: bullish ▲
- WHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2016-10-24 | 1 | -2.2% | -3.4 | Wheat futures fell nearly 3% on 24 Oct as the dollar index hit an eight-month high, which makes US wheat less competitive and drives selling (currency). |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2016-11-23 | [Wheat prices shed nearly one percent as eyes fixed on Fed's minutes](https://feedsoft.ai/events/11917-wheat-prices-shed-nearly-one-percent-as-eyes-fixed-on-fed-s-minutes.md) | -2.9% | +0.6% |
| 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 | 2018-10-26 | [U.S. wheat prices mostly about Russia these days \| Oklahoma State University](https://feedsoft.ai/events/62580-u-s-wheat-prices-mostly-about-russia-these-days-oklahoma-state-university.md) | +0.8% | -3.7% |
| WHEAT | 2016-06-28 | [EU wheat prices weaken as firmer euro dents export outlook](https://feedsoft.ai/events/11730-eu-wheat-prices-weaken-as-firmer-euro-dents-export-outlook.md) | -2.7% | -3.5% |
| WHEAT | 2016-11-09 | [Corn, wheat drop more than 1 percent as Trump wins White House - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/73885-corn-wheat-drop-more-than-1-percent-as-trump-wins-white-house-agweek-1-source.md) | +0.8% | -0.1% |
| DXY | 2016-11-23 | [Wheat prices shed nearly one percent as eyes fixed on Fed's minutes](https://feedsoft.ai/events/11917-wheat-prices-shed-nearly-one-percent-as-eyes-fixed-on-fed-s-minutes.md) | +0.3% | +1.0% |
| DXY | 2016-06-21 | [Corn prices crash nearly six percent in American trade](https://feedsoft.ai/events/9748-corn-prices-crash-nearly-six-percent-in-american-trade.md) | +2.0% | +1.6% |
| DXY | 2023-07-28 | [AUD/USD struggles near three-week low amid stronger USD, ahead of US PCE Price Index — Octa](https://feedsoft.ai/events/35310-aud-usd-struggles-near-three-week-low-amid-stronger-usd-ahead-of-us-pce-price.md) | +1.3% | +2.0% |

## Sources

- economies.com: https://www.economies.com/commodities/wheat-news/wheat-prices-sink-nearly-three-percent-18186

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