# After 6 weeks of price decline, technical purchases

> CBOT wheat futures extended their decline to six weeks, then rebounded on technical buying. Egypt bought 295,000 t of Russian wheat and 60,000 t from Ukraine, while US wheat was not offered because the price structure did not fit the world market. India's wheat crop forecast was raised by 800,000 t to a record 98.38 million t.

- Date: 2017-08-17 · published 2017-08-17T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/11620-after-6-weeks-of-price-decline-technical-purchases
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A record Indian crop and ample Russian supply keep the global wheat balance loose. The technical rebound may be short-lived, which limits upside for feed wheat costs.

## Read by commodity

- WHEAT: neutral

## Sources

- zmp.de: https://www.zmp.de/en/futures/news/newsticker-after-6-weeks-price-decline-technical-purchases-support-cbot-wheat-courses

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