# Prairie cash wheat: Bids steady following Ukraine volatility - AgCanada

> Western Canadian wheat bids were slightly higher for the week ended November 17 after a volatile week tied to the Ukraine-Russia conflict. The Black Sea grain deal was extended by 120 days, and the IGC cut 2022-23 wheat ending stocks by four million tonnes to 282 million.

- Date: 2022-11-18 · published 2022-11-18T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/38728-prairie-cash-wheat-bids-steady-following-ukraine-volatility-agcanada
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

The Black Sea deal extension adds supply certainty that pressures wheat, while the IGC stock cut and dry US and Argentine conditions offset it.

## Read by commodity

- WHEAT: neutral
- KWHEAT: neutral
- USDCAD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-02-25 | [Canadian farmers face volatility as war in Ukraine creates swings in global market for grains, oilseeds \| Financial Post](https://feedsoft.ai/events/9677-canadian-farmers-face-volatility-as-war-in-ukraine-creates-swings-in-global.md) | +9.4% | +23.7% |
| WHEAT | 2022-02-25 | [Feed weekly outlook: Prices steady, but changes coming - AgCanada](https://feedsoft.ai/events/6314-feed-weekly-outlook-prices-steady-but-changes-coming-agcanada.md) | +9.4% | +23.7% |
| WHEAT | 2022-04-04 | [Prospects for Australian Wheat Exports Amid the Ukraine-Russia Conflict —Australian Institute of International Affairs](https://feedsoft.ai/events/41820-prospects-for-australian-wheat-exports-amid-the-ukraine-russia-conflict.md) | -7.3% | -4.2% |
| WHEAT | 2022-04-05 | [Supply shock caused by Russian invasion of Ukraine puts strain on various EU agri-food sectors](https://feedsoft.ai/events/41780-supply-shock-caused-by-russian-invasion-of-ukraine-puts-strain-on-various-eu.md) | -2.1% | +3.9% |
| WHEAT | 2018-11-26 | [Ukraine's Azov Sea ports operating normally despite tensions with Russia](https://feedsoft.ai/events/61920-ukraine-s-azov-sea-ports-operating-normally-despite-tensions-with-russia.md) | +0.6% | +3.2% |
| KWHEAT | 2018-12-01 | [Keeping an eye on Argentina for direction — This week in the grain markets - RealAgriculture](https://feedsoft.ai/events/61634-keeping-an-eye-on-argentina-for-direction-this-week-in-the-grain-markets.md) | -0.8% | +1.2% |

## Sources

- agcanada.com: https://www.agcanada.com/daily/prairie-cash-wheat-bids-steady-following-ukraine-volatility

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