# Canada Know-Risk Market Outlook | Wheat Leads Ag Markets Lower

> StoneX's Canada market outlook on February 24, 2023 showed wheat leading grains lower, with HRW down 21 cents, SRW down 23 cents and HRS down 16 cents. Russian wheat was offered below $300/MT while US Gulf HRW was around $385, limiting export demand for US and Canadian wheat.

- Date: 2023-02-24 · published 2023-02-24T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/37372-canada-know-risk-market-outlook-wheat-leads-ag-markets-lower
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Russia's low offers cap export prices for North American wheat, pressuring wheat values and reducing competitiveness for US and Canadian supplies.

## Read by commodity

- WHEAT: bearish ▼
- KWHEAT: bearish ▼
- CANMEAL: neutral

## Sources

- stonex.com: https://www.stonex.com/en-gb/insights/canada-know-risk-market-outlook-wheat-leads-ag-markets-lower/

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