# Grain futures markets take a battering | Grain Wrap | The Land | NSW

> Grain futures fell sharply from May highs, with Chicago December wheat retreating to levels last seen in early 2022. Selling was driven by a risk-off climate from rising interest rates and the cost of living, and by Northern Hemisphere harvest pressure. USDA's spring wheat acreage came in above expectations despite being the lowest in four years.

- Date: 2022-07-07 · published 2022-07-07T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/12500-grain-futures-markets-take-a-battering-grain-wrap-the-land-nsw
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Harvest pressure and fund liquidation weighed on wheat prices, although ongoing Black Sea supply disruption limits the downside. Feed buyers can expect softer wheat values in the near term.

## Read by commodity

- WHEAT: bearish ▼

## Sources

- theland.com.au: https://www.theland.com.au/story/7808040/markets-take-an-elevator-from-the-top-floor/

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