# Wheat bounces off 2-month low, US view of higher supply caps gains - Markets - Business Recorder

> CBOT wheat rose from a two-month low on November 10 even though USDA's forecast of higher world supplies limited gains. Corn and soybeans slipped slightly. Argentina's 2022/23 wheat crop forecast was cut to 11.8 million tonnes amid drought, and the Russia grain corridor deal remains uncertain beyond November 19.

- Date: 2022-11-10 · published 2022-11-10T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/38645-wheat-bounces-off-2-month-low-us-view-of-higher-supply-caps-gains-markets
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

The Argentine crop cut and the uncertainty over the Black Sea corridor give wheat some support, though the bigger world supply outlook caps the rally. Net direction is roughly flat for now.

## Read by commodity

- WHEAT: neutral

## Sources

- brecorder.com: https://www.brecorder.com/news/40208036

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