# Wheat prices continue to fall amid USDA report and cancellation of tender in Egypt

> Wheat quotations fell on November 8 as the Black Sea grain corridor resumed, with 14 ships entering Ukrainian ports in two days. Egypt's GASC cancelled a wheat tender after offers were deemed too expensive, and USDA was expected to trim 2022/23 world wheat stocks by 0.6 million tonnes.

- Date: 2022-11-09 · published 2022-11-09T12:00:00.000Z
- Category: trade · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/38715-wheat-prices-continue-to-fall-amid-usda-report-and-cancellation-of-tender-in
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Resumed corridor flows and lower Russian FOB prices pressure wheat, while the Egyptian tender cancellation signals weaker near-term import demand.

## Read by commodity

- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2019-02-21 | [Tender in Egypt has further reduced the price of wheat](https://feedsoft.ai/events/6778-tender-in-egypt-has-further-reduced-the-price-of-wheat.md) | -3.2% | +0.7% |
| WHEAT | 2019-12-05 | [After a speculative jump in wheat prices continue to decline](https://feedsoft.ai/events/11056-after-a-speculative-jump-in-wheat-prices-continue-to-decline.md) | -3.9% | -1.3% |
| WHEAT | 2019-02-23 | [Wheat Markets Continue to Sell Off](https://feedsoft.ai/events/6773-wheat-markets-continue-to-sell-off.md) | -3.6% | +0.5% |
| WHEAT | 2024-09-02 | [Spain: The fall in cereal prices at the León market continues, conditioned by the world market](https://feedsoft.ai/events/28379-spain-the-fall-in-cereal-prices-at-the-leon-market-continues-conditioned-by-the.md) | +3.6% | +14.4% |
| WHEAT | 2017-09-15 | [Ukraine and Russia in August exported 2.8 million tons of wheat to Asia — Latifundist.com](https://feedsoft.ai/events/68817-ukraine-and-russia-in-august-exported-2-8-million-tons-of-wheat-to-asia.md) | +0.7% | +3.6% |
| KWHEAT | 2019-02-21 | [Tender in Egypt has further reduced the price of wheat](https://feedsoft.ai/events/6778-tender-in-egypt-has-further-reduced-the-price-of-wheat.md) | -2.5% | -1.3% |
| KWHEAT | 2019-12-05 | [After a speculative jump in wheat prices continue to decline](https://feedsoft.ai/events/11056-after-a-speculative-jump-in-wheat-prices-continue-to-decline.md) | -2.3% | +11.7% |
| KWHEAT | 2017-09-15 | [Ukraine and Russia in August exported 2.8 million tons of wheat to Asia — Latifundist.com](https://feedsoft.ai/events/68817-ukraine-and-russia-in-august-exported-2-8-million-tons-of-wheat-to-asia.md) | +6.8% | +1.3% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/wheat-prices-continue-to-fall-amid-usda-report-and-cancellation-of-tender-in-egypt/

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