# Basis level recovery bad news for exporters | Farm Online | ACT

> Chicago wheat futures fell 17.25 US cents per bushel in the week to early December, but Australian cash prices did not fall as much, so basis levels recovered. ABARES data show east coast wheat supplies nearly sufficient for domestic demand.

- Date: 2019-12-09 · published 2019-12-09T12:00:00.000Z
- Category: market · region Australia · magnitude low
- Page: https://feedsoft.ai/events/11058-basis-level-recovery-bad-news-for-exporters-farm-online-act
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A firmer Australian basis makes exports less competitive while domestic supply is ample, which may force exporters to accept lower margins or shift toward a two-tier domestic price structure. Weaker Chicago futures keep the global benchmark under pressure.

## Read by commodity

- WHEAT: bearish ▼

## Sources

- farmonline.com.au: https://www.farmonline.com.au/story/6533032/basis-rebound-hurts-exports/

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