# Daily market wire 30 Aug 2016 - Grain Central

> CBOT wheat fell 13 cents to 370.5 cents, Kansas wheat dropped to 374.25 cents, and corn and soybeans also declined. Fund selling was expected to push wheat to record short levels, and US wheat was competing for exports to Africa and the Middle East. Variable storage rates were triggered as wheat carry spreads widened.

- Date: 2016-08-29 · published 2016-08-29T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/10613-daily-market-wire-30-aug-2016-grain-central
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Heavy fund selling and competitive US wheat export pricing point to continued pressure on grain prices. Triggered storage rates signal ample supply carrying into the new crop year.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Sources

- graincentral.com: https://www.graincentral.com/markets/daily-market-wire-30-aug-2016/

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