# The increase in wheat prices reduces demand

> The Russian Grain Union raised its 2019 wheat production forecast to 75.8 million tonnes, and ICAR raised its estimate to 75.4 million tonnes. Russian, Ukrainian and EU weekly wheat exports were cut, and Paris milling wheat rose slightly on Canadian harvest problems and Australian drought.

- Date: 2019-10-08 · published 2019-10-08T12:00:00.000Z
- Category: report · region Black Sea · magnitude low
- Page: https://feedsoft.ai/events/5902-the-increase-in-wheat-prices-reduces-demand
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A larger Russian crop adds Black Sea supply that competes with other origins, which weighs on wheat prices, while slower exports and harvest delays offer some support.

## Read by commodity

- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2023-06-29 | [Wheat prices fell again by 2.2-4.8% on the background of increased acreage in Canada](https://feedsoft.ai/events/35514-wheat-prices-fell-again-by-2-2-4-8-on-the-background-of-increased-acreage-in.md) | -8.3% | -8.2% |
| WHEAT | 2020-08-09 | [Wheat prices to remain range-bound - The HinduBusinessLine](https://feedsoft.ai/events/51561-wheat-prices-to-remain-range-bound-the-hindubusinessline.md) | -1.0% | +0.0% |
| WHEAT | 2021-01-14 | [USDA Predicts Increase in India’s Wheat, Rice Exports \| IASPOINT](https://feedsoft.ai/events/49095-usda-predicts-increase-in-india-s-wheat-rice-exports-iaspoint.md) | +1.4% | -5.0% |
| WHEAT | 2024-07-29 | [Wheat prices in the US fell to the lowest level since 2020](https://feedsoft.ai/events/29288-wheat-prices-in-the-us-fell-to-the-lowest-level-since-2020.md) | -4.2% | -6.9% |
| WHEAT | 2018-01-12 | [WADSE wallops wheat prices](https://feedsoft.ai/events/66934-wadse-wallops-wheat-prices.md) | -0.2% | +5.8% |

## Sources

- graintrade.com.ua: https://graintrade.com.ua/en/novosti/zrostannya-tcini-na-pshenitcyu-znizhue-popit.html

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