# Wheat prices rose slightly, offsetting the previous week’s decline

> December wheat futures rose 2-3.5% in the week to November 6 as Northern Hemisphere weather improved crop prospects. The Buenos Aires exchange cut its Argentine wheat forecast to 15.4 million tons, while Russian supply continued to pressure European prices.

- Date: 2023-11-07 · published 2023-11-07T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/33223-wheat-prices-rose-slightly-offsetting-the-previous-week-s-decline
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Heavy Russian supply caps wheat rallies, but Argentine production cuts provide modest support, leaving the price outlook balanced to softer.

## Read by commodity

- WHEAT: neutral
- KWHEAT: neutral

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/wheat-prices-rose-slightly-offsetting-the-previous-weeks-decline/

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