# After a speculative jump in wheat prices turned down

> Chicago, Kansas City and Minneapolis wheat futures fell after a brief speculative spike, while Black Sea and European wheat prices held steady. Buyer demand was weak, with Jordan buying 60,000 tonnes at about $239/t CFR, and Russian 12.5% protein wheat was offered at $210/t FOB.

- Date: 2019-11-28 · published 2019-11-28T12:00:00.000Z
- Category: market · region Black Sea · magnitude low
- Page: https://feedsoft.ai/events/56111-after-a-speculative-jump-in-wheat-prices-turned-down
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Weak import demand and ample Black Sea offers cap export prices, suggesting the wheat rally is losing momentum and feed wheat supplies remain well covered.

## Read by commodity

- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Sources

- graintrade.com.ua: https://graintrade.com.ua/en/novosti/pislya-spekulyativnogo-stribka-tcini-na-pshenitcyu-rozvernulisya-donizu.html

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