# Wheat Falls on Weak Demand, Lower Russian Prices

> Chicago wheat futures fell about 1.2% on February 1 as weak demand and falling Russian export prices weighed on the market, with soybeans and corn also lower and near multi-year lows. Analysts at Rabobank said grain prices are likely to stay under pressure given a more plentiful 2024 supply outlook.

- Date: 2024-02-01 · published 2024-02-01T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/31704-wheat-falls-on-weak-demand-lower-russian-prices
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Ample Black Sea supply and low Russian export quotes cap wheat values, and soft corn and soybean prices keep feed grain costs favorable for buyers near term.

## Read by commodity

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

## Sources

- agriculture.com: https://www.agriculture.com/wheat-falls-on-weak-demand-lower-russian-prices-8557357
- brecorder.com: https://www.brecorder.com/news/40286828

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