# Wheat heads for first monthly fall since September on ample supply - Markets - Business Recorder

> Chicago wheat futures fell on January 31, 2024, heading for their first monthly decline since September. Falling Russian export prices and a stronger dollar weighed on US prices, while soybean and corn futures also dipped after rain improved crop prospects in Brazil and Argentina.

- Date: 2024-01-31 · published 2024-01-31T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/32174-wheat-heads-for-first-monthly-fall-since-september-on-ample-supply-markets
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Lower Russian offers and a firmer dollar make US wheat less competitive, and South American rains reduce supply risk for soy and corn. Ample supply keeps the bearish pressure on grain prices.

## Read by commodity

- DXY: bullish ▲
- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Sources

- brecorder.com: https://www.brecorder.com/news/40286638

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