# Global Wheat Markets Search for Bottom

> Russian milling wheat fell for a seventh straight week to $212/mt on the IGC report, down 13.5% since early January. North American export offers fell by smaller percentages, and Ukraine is undercutting rivals in Asian markets.

- Date: 2024-02-28 · published 2024-02-28T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/31711-global-wheat-markets-search-for-bottom
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Low Russian and Ukrainian export offers cap global wheat values and pull North American wheat prices down with them. Cheap wheat is a cheaper feed-grain alternative for buyers.

## Read by commodity

- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/AG/blogs/canada-markets/blog-post/2024/02/28/global-wheat-markets-search-bottom

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