# Wheat ETF Hits New Low on a Bumper Crop Year

> The Teucrium Wheat Fund fell 1.9% to a new low on 29 August as CBOT wheat dropped 2.6% to $3.9675 per bushel, its first trade below $4 since 2006. Global wheat stocks are building from large harvests, with the IGC raising its world production forecast to a record 743 million tonnes. US winter wheat output rose 21% and Russia is set to become the largest exporter.

- Date: 2016-08-29 · published 2016-08-29T12:00:00.000Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/10615-wheat-etf-hits-new-low-on-a-bumper-crop-year
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Record world wheat production and large exporter supplies from Russia and the US push wheat prices down, lowering feed-grain costs. Storage shortages in several origins may force further sales and add pressure.

## Read by commodity

- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Sources

- etftrends.com: https://www.etftrends.com/2016/08/wheat-etf-hits-new-low-on-a-bumper-crop-year/

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