# U.S. grains: Wheat futures approach three-month high - AgCanada

> Chicago wheat futures hit their highest in nearly three months on Oct 17 as short covering followed signs of firmer cash prices. Egypt bought 405,000 tonnes of Black Sea and European wheat at higher prices, and dryness in Argentina and Australia supported the rally.

- Date: 2019-10-17 · published 2019-10-17T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/56601-u-s-grains-wheat-futures-approach-three-month-high-agcanada
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Firmer global cash prices and South American dryness lift wheat values, raising the cost of wheat used in feed rations.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Sources

- agcanada.com: https://www.agcanada.com/daily/u-s-grains-wheat-futures-approach-three-month-high

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