# Wheat extends gains to second day, Omicron and supply outlook cap gains | Financial Post

> US wheat futures rose for a second session on December 2, with Chicago wheat near $7.92 a bushel. Gains were capped by Omicron concerns and expectations of ample global supplies after ABARES raised Australia's crop estimate to a record 34.4 million tonnes.

- Date: 2021-12-02 · published 2021-12-02T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/43650-wheat-extends-gains-to-second-day-omicron-and-supply-outlook-cap-gains
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Record Australian supply and Omicron-related demand worries limit upside for wheat, keeping feed-wheat prices under some pressure despite earlier rallies.

## Read by commodity

- SOY: neutral
- CORN: neutral
- WHEAT: neutral

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/wheat-extends-gains-to-second-day-omicron-and-supply-outlook-cap-gains

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