# U.S. grains: Wheat posts steepest drop since August - Grainews

> Chicago wheat fell more than 3% on April 1 to its steepest decline in 7.5 months, with May wheat closing at $5.50 1/4. Soybeans dropped over 2% and corn hit fresh contract lows on large supplies and weak ethanol demand, as a firmer dollar and coronavirus equity selloff added pressure.

- Date: 2020-04-01 · published 2020-04-01T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/53685-u-s-grains-wheat-posts-steepest-drop-since-august-grainews
- 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

Broad grain weakness with burdensome corn supplies and a stronger dollar points to lower feed ingredient costs in the near term.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Sources

- grainews.ca: https://www.grainews.ca/daily/u-s-grains-wheat-posts-steepest-drop-since-august/

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