# Wheat basis not falling but not rising 26.10.2021 - UkrAgroConsult

> Chicago Soft Red Wheat December futures rallied back to about 756 cents a bushel after Russian export tax increases and heat and drought affecting the US spring crop. December SRW has gained 5% over the past two weeks and sits about 30 cents below May's nine-year high.

- Date: 2021-10-26 · published 2021-10-26T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/44579-wheat-basis-not-falling-but-not-rising-26-10-2021-ukragroconsult
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Russian export tax hikes and US spring crop stress keep wheat firm, raising the cost of feed wheat and supporting prices for wheat-based feed alternatives in Australia and other importing markets.

## Read by commodity

- WHEAT: bullish ▲

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/wheat-basis-not-falling-but-not-rising/

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