# Wheat still trying to revalue - Milling and Grain

> Chicago wheat futures traded around $5.00 to $5.35 per bushel in the past month, a recent rally off 2019 lows but still far below levels seen earlier this decade. Support came from rising Russian prices, drought in Australia and Argentina, dryness in Europe and the Black Sea, and firmer maize prices.

- Date: 2019-12-31 · published 2019-12-31T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/55613-wheat-still-trying-to-revalue-milling-and-grain
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Wheat remains cheap against history despite a global surplus, so drought-driven crop cuts and a firmer corn market could keep feed-wheat prices supported into 2020.

## Read by commodity

- CORN: bullish ▲
- WHEAT: bullish ▲

## Sources

- millingandgrain.com: https://millingandgrain.com/wheat-still-trying-to-revalue-21555/

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