# ASX wheat holding on in the face of falling SRW - Mecardo

> Chicago Soft Red Wheat futures have fallen over the past two months, with SRW now finding support near $300/t. Australian wheat prices are holding up better because local supply is tighter, according to Mecardo analysis.

- Date: 2024-07-30 · published 2024-07-30T12:00:00.000Z
- Category: market · region Australia · magnitude low
- Page: https://feedsoft.ai/events/29194-asx-wheat-holding-on-in-the-face-of-falling-srw-mecardo
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Strong US winter harvest and rising global stocks pressure international wheat prices, but a tighter Australian supply picture supports the local premium.

## Read by commodity

- WHEAT: bearish ▼

## Sources

- mecardo.com.au: https://mecardo.com.au/asx-wheat-holding-on-in-the-face-of-falling-srw/

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