# Farming News - US & EU wheat price down - the Weekly Markets

> US and EU wheat prices fell this week, with US markets moving back toward recent contract lows. ABARES forecast Australian wheat output down 42% to 20.3 million tonnes, and Statistics Canada put Canadian wheat output near 30 million tonnes, above trade expectations.

- Date: 2017-12-08 · published 2017-12-08T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/11626-farming-news-us-and-eu-wheat-price-down-the-weekly-markets
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A larger-than-expected Canadian crop and continued EU sales from Black Sea exporters outweigh the Australian shortfall, keeping wheat prices under pressure.

## Read by commodity

- WHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2017-12-11 | 1 | -3.0% | -3.1 | Weekly reports showed US wheat sliding toward contract lows with Canadian output above expectations, which reinforced bearish sentiment into the 12-11 session. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2018-03-09 | [Farming News - Roundup of the OSR,Wheat & Fertiliser Markets](https://feedsoft.ai/events/10892-farming-news-roundup-of-the-osr-wheat-and-fertiliser-markets.md) | -0.2% | +0.6% |
| WHEAT | 2018-01-18 | [More bad news for the wheat market](https://feedsoft.ai/events/67024-more-bad-news-for-the-wheat-market.md) | +2.9% | +5.9% |
| WHEAT | 2017-03-19 | [Markets preparing for spring - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/10725-markets-preparing-for-spring-agweek-1-source-for-agriculture-news-farming.md) | -2.8% | -0.8% |
| WHEAT | 2019-10-13 | [USDA's estimates baffle the trade - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/56501-usda-s-estimates-baffle-the-trade-agweek-1-source-for-agriculture-news-farming.md) | +4.5% | +1.5% |
| WHEAT | 2020-06-07 | [Have the markets found a bottom? - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/9493-have-the-markets-found-a-bottom-agweek-1-source-for-agriculture-news-farming.md) | -0.3% | -6.4% |

## Sources

- farming.co.uk: https://farming.co.uk/news/-us--eu-wheat-price-down---the-weekly-markets

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