# U.S. grains: Spring wheat sinks to 10-year low on burdensome supplies - Grainews

> U.S. spring wheat futures on MGEX fell to a 10-year low on August 30, with the nearby contract touching $4.77-1/2 a bushel, the lowest front-month level since October 2009. Heavy supplies from a second straight large harvest and bigger-than-expected September deliveries pressured the market.

- Date: 2019-08-30 · published 2019-08-30T12:00:00.000Z
- Category: market · region US · magnitude medium
- Page: https://feedsoft.ai/events/57617-u-s-grains-spring-wheat-sinks-to-10-year-low-on-burdensome-supplies-grainews
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Burdensome spring wheat supplies and a record USDA yield outlook point to continued downward pressure on wheat prices and feed-wheat alternatives. Lower wheat prices can make wheat more competitive as a feed ingredient versus corn.

## Read by commodity

- WHEAT: bearish ▼

## Sources

- grainews.ca: https://www.grainews.ca/daily/u-s-grains-spring-wheat-sinks-to-10-year-low-on-burdensome-supplies/

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