# Why wheat prices have fallen to their lowest since 2020 despite Russia-Ukraine grain deal’s lapse - MarketWatch

> Soft red winter wheat prices fell to their lowest since late 2020 on ample global supplies. The market has largely ignored the lapse of the Black Sea Grain Initiative after Russia let it expire in July.

- Date: 2023-09-12 · published 2023-09-12T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/34141-why-wheat-prices-have-fallen-to-their-lowest-since-2020-despite-russia-ukraine
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Abundant global supply outweighs geopolitical risk, keeping wheat prices low and making wheat cheaper as a feed ingredient.

## Read by commodity

- CORN: neutral
- WHEAT: bearish ▼

## Sources

- marketwatch.com: https://www.marketwatch.com/story/why-wheat-prices-have-fallen-to-their-lowest-since-2020-despite-russia-ukraine-grain-deals-lapse-255c6017

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