# CBOT wheat futures tumble; what it means for Australian growers | Farm Online | ACT

> Chicago wheat futures fell sharply through June, and an Australian grain analyst argues CBOT no longer reflects global wheat values since the U.S. share of world exports has dropped to about 10-15%. Black Sea suppliers now dominate, and Europe and Canada are larger exporters. Buyers still use CBOT for hedging.

- Date: 2024-06-29 · published 2024-06-29T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/29817-cbot-wheat-futures-tumble-what-it-means-for-australian-growers-farm-online-act
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Explains why CBOT moves may diverge from Black Sea and Australian export prices, so buyers should hedge with local basis in mind rather than rely solely on CBOT.

## Read by commodity

- WHEAT: bearish ▼

## Sources

- farmonline.com.au: https://www.farmonline.com.au/story/8673993/cbot-wheat-futures-tumble-what-it-means-for-australian-growers/

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