# Improved crop condition in the US and accelerated harvest in Australia and Argentina increase pressure on wheat prices

> Wheat prices fell to four-year lows after USDA crop progress showed US winter wheat conditions improving to 55% good-to-excellent. Harvests in Australia and Argentina also began, and December futures dropped across Chicago, Kansas City, Minneapolis and Paris.

- Date: 2024-11-26 · published 2024-11-26T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/11780-improved-crop-condition-in-the-us-and-accelerated-harvest-in-australia-and
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Improved US crop ratings and early Southern Hemisphere supplies increase global wheat availability, which pushes prices lower across major futures markets.

## Read by commodity

- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-08-02 | [Precipitation improved the prospects for the wheat harvest in Australia](https://feedsoft.ai/events/28738-precipitation-improved-the-prospects-for-the-wheat-harvest-in-australia.md) | +4.8% | -2.5% |
| WHEAT | 2023-05-31 | [Wheat prices fell by 2.5-4.7% against the background of the acceleration of sowing in the USA and an increase in crop forecasts in the EU and the Russia](https://feedsoft.ai/events/35987-wheat-prices-fell-by-2-5-4-7-against-the-background-of-the-acceleration-of.md) | -3.2% | +9.0% |
| WHEAT | 2024-11-28 | [Wheat markets fall: Harvest pressure from Argentina and](https://feedsoft.ai/events/11778-wheat-markets-fall-harvest-pressure-from-argentina-and.md) | +0.2% | +2.4% |
| WHEAT | 2022-06-22 | [Accelerating harvesting in the United States and raising harvest forecasts for Russia are lowering wheat prices 22.06.2022 - UkrAgroConsult](https://feedsoft.ai/events/12702-accelerating-harvesting-in-the-united-states-and-raising-harvest-forecasts-for.md) | +1.8% | -4.6% |
| WHEAT | 2025-10-20 | [Australia’s wheat production outlook improves as harvest begins - AgCanada](https://feedsoft.ai/events/22345-australia-s-wheat-production-outlook-improves-as-harvest-begins-agcanada.md) | +0.7% | -2.8% |
| KWHEAT | 2023-05-31 | [Wheat prices fell by 2.5-4.7% against the background of the acceleration of sowing in the USA and an increase in crop forecasts in the EU and the Russia](https://feedsoft.ai/events/35987-wheat-prices-fell-by-2-5-4-7-against-the-background-of-the-acceleration-of.md) | +4.7% | +2.2% |
| KWHEAT | 2025-06-26 | [Big global wheat crop expected to pressure prices \| The Western Producer](https://feedsoft.ai/events/24273-big-global-wheat-crop-expected-to-pressure-prices-the-western-producer.md) | -0.3% | +0.8% |
| KWHEAT | 2023-12-19 | [Increasing forecasts of wheat harvest and exports from Canada lowers quotations in the US](https://feedsoft.ai/events/32746-increasing-forecasts-of-wheat-harvest-and-exports-from-canada-lowers-quotations.md) | +2.4% | -3.6% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/improved-crop-condition-in-the-us-and-accelerated-harvest-in-australia-and-argentina-increase-pressure-on-wheat-prices/

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