# Welcome to Wheat Marketing in 2023 to 2024 - Alberta Grains

> Wheat markets rallied early in the last full July week on dryness and Russian attacks on Ukrainian shipping, with Chicago SRW going limit up for nearly two sessions. Prices then fell Wednesday through Friday as NOAA forecast Midwest rain and US wheat remained uncompetitive internationally. The EU cut its soft wheat output by 2.5 MMT to 126.4 MMT, and Agritel put France's harvest at 34.8 MMT.

- Date: 2023-07-31 · published 2023-07-31T12:00:00.000Z
- Category: market · region Global · magnitude medium
- Page: https://feedsoft.ai/events/35103-welcome-to-wheat-marketing-in-2023-to-2024-alberta-grains
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Cuts to EU and French crops tighten European supply, while uncompetitive US prices limit export demand and cap rallies. Buyers should weigh firmer EU crop estimates against weak US export competitiveness.

## Read by commodity

- WHEAT: neutral
- KWHEAT: neutral

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| KWHEAT | 2023-08-03 | 5 | -12.1% | -3.0 | Describes the reversal of the late-July rally: prices fell Wed-Fri on Midwest rain forecasts and uncompetitive US wheat, unwinding the war/dryness premium that drove the 5-day drop. |

## Sources

- albertagrains.com: https://www.albertagrains.com/combined-markets/market-insider/welcome-to-2023-2024-wheat-marketing

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