# Wheat prices shed nearly one percent as eyes fixed on Fed's minutes

> Wheat futures fell about 0.8% to $423.75 a bushel as the dollar index rose to a 14-year high. Stronger-than-expected US durable goods orders, manufacturing PMI and consumer confidence data also came out ahead of the Fed minutes.

- Date: 2016-11-23 · published 2016-11-23T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/11917-wheat-prices-shed-nearly-one-percent-as-eyes-fixed-on-fed-s-minutes
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger dollar makes US wheat less competitive on world markets and weighs on dollar-denominated futures. Strong US data supports the dollar further, so the pressure on wheat prices may persist.

## Read by commodity

- DXY: bullish ▲
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2016-10-24 | [Wheat prices sink nearly three percent](https://feedsoft.ai/events/10539-wheat-prices-sink-nearly-three-percent.md) | -2.0% | -0.5% |
| WHEAT | 2016-06-28 | [EU wheat prices weaken as firmer euro dents export outlook](https://feedsoft.ai/events/11730-eu-wheat-prices-weaken-as-firmer-euro-dents-export-outlook.md) | -2.7% | -3.5% |
| WHEAT | 2026-10-27 | [Wheat Prices Slip As A Stronger Dollar Tests Exports - Finimize](https://feedsoft.ai/events/455-wheat-prices-slip-as-a-stronger-dollar-tests-exports-finimize.md) | -0.2% | — |
| WHEAT | 2016-11-09 | [Corn, wheat drop more than 1 percent as Trump wins White House - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/73885-corn-wheat-drop-more-than-1-percent-as-trump-wins-white-house-agweek-1-source.md) | +0.8% | -0.1% |
| WHEAT | 2018-10-26 | [U.S. wheat prices mostly about Russia these days \| Oklahoma State University](https://feedsoft.ai/events/62580-u-s-wheat-prices-mostly-about-russia-these-days-oklahoma-state-university.md) | +0.8% | -3.7% |
| DXY | 2016-10-24 | [Wheat prices sink nearly three percent](https://feedsoft.ai/events/10539-wheat-prices-sink-nearly-three-percent.md) | +0.2% | +3.1% |
| DXY | 2016-06-21 | [Corn prices crash nearly six percent in American trade](https://feedsoft.ai/events/9748-corn-prices-crash-nearly-six-percent-in-american-trade.md) | +2.0% | +1.6% |
| DXY | 2022-06-13 | [ASX down nearly 4 per cent after Wall Street sell-off on inflation fears, S&P 500 falls into bear market - ABC News](https://feedsoft.ai/events/41207-asx-down-nearly-4-per-cent-after-wall-street-sell-off-on-inflation-fears-s-and.md) | +1.0% | +2.9% |

## Sources

- economies.com: https://www.economies.com/commodities/wheat-news/wheat-prices-shed-nearly-one-percent-as-eyes-fixed-on-feds-minutes-18413

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