# Wheat falls more than 3% on supply pressure; corn, soybeans drop

> Chicago wheat futures fell more than 3% on Monday July 7, 2025, as Northern Hemisphere harvest supplies weighed on prices. Russia cut its wheat export tax to zero, the first removal since its 2021 introduction. Corn and soybeans fell about 1.3% on favorable US weather and expectations of bumper production.

- Date: 2025-07-07 · published 2025-07-07T12:00:00.000Z
- Category: policy · region Black Sea · magnitude high
- Page: https://feedsoft.ai/events/11932-wheat-falls-more-than-3-on-supply-pressure-corn-soybeans-drop
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Russia's export tax removal increases competitive wheat supply from the largest exporter, adding downward pressure on global wheat prices.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2025-07-10 | 5 | -6.0% | -2.8 | On July 7 corn fell about 1.3% on favorable US weather and bumper crop expectations, with wheat down over 3% on harvest pressure, directly adding to the 5-day decline. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2025-06-16 | [Soyoil hits 20-month peak, corn falls on good crop weather](https://feedsoft.ai/events/5343-soyoil-hits-20-month-peak-corn-falls-on-good-crop-weather.md) | -1.0% | -4.3% |
| WHEAT | 2024-11-12 | [U.S. grains: Soybeans plunge with Trump EPA pick; wheat and corn also fall - AgCanada](https://feedsoft.ai/events/12340-u-s-grains-soybeans-plunge-with-trump-epa-pick-wheat-and-corn-also-fall-agcanada.md) | -1.4% | -0.4% |
| WHEAT | 2026-10-28 | [CBOT wheat falls as Russia issues grain vessel permits; soybeans, soyoil follow \| MarketScreener India](https://feedsoft.ai/events/83-cbot-wheat-falls-as-russia-issues-grain-vessel-permits-soybeans-soyoil-follow.md) | +0.2% | — |
| WHEAT | 2021-06-26 | [Supreme Court ruling, Midwest rains pressure US corn and soya - Markets - Business Recorder](https://feedsoft.ai/events/46610-supreme-court-ruling-midwest-rains-pressure-us-corn-and-soya-markets-business.md) | -0.2% | -3.7% |
| WHEAT | 2025-06-16 | [Soyoil around 18-month highs, grains fall on good crop weather](https://feedsoft.ai/events/5344-soyoil-around-18-month-highs-grains-fall-on-good-crop-weather.md) | -1.0% | -4.3% |
| KWHEAT | 2025-07-10 | [Russia orders measures to boost agriculture exports after wheat sales fall in July](https://feedsoft.ai/events/14189-russia-orders-measures-to-boost-agriculture-exports-after-wheat-sales-fall-in.md) | +3.4% | +1.2% |
| KWHEAT | 2021-03-29 | [Black Sea wheat sharply lower on new crop prospects, Russian farmers hope that the tax will be lifted in 2021 - The Sizov Report blog](https://feedsoft.ai/events/48192-black-sea-wheat-sharply-lower-on-new-crop-prospects-russian-farmers-hope-that.md) | -0.9% | +23.5% |
| KWHEAT | 2026-02-13 | [After 4 years, India allows wheat export \| India News - The Indian Express](https://feedsoft.ai/events/20587-after-4-years-india-allows-wheat-export-india-news-the-indian-express.md) | +3.3% | +11.7% |

## Sources

- tradingview.com: https://www.tradingview.com/news/reuters.com,2025:newsml_L1N3T401J:0-wheat-falls-more-than-3-on-supply-pressure-corn-soybeans-drop/

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