# U.S. grains: Wheat posts steepest weekly decline in half a year - AgCanada

> Chicago wheat fell about 7% for the week, its steepest weekly drop since late August, as technical selling and competitive global supplies weighed. The May contract hit a fresh contract low before recovering slightly, while soybeans and corn rose modestly on Brazilian crop forecast increases.

- Date: 2019-03-02 · published 2019-03-02T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/60131-u-s-grains-wheat-posts-steepest-weekly-decline-in-half-a-year-agcanada
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Heavy export competition from Black Sea and South American supplies keeps wheat priced low, which lowers feed-grain substitution costs for buyers. Soybean and corn gains were capped by South American export pressure.

## Read by commodity

- SOY: neutral
- CORN: neutral
- WHEAT: bearish ▼

## Sources

- agcanada.com: https://www.agcanada.com/daily/u-s-grains-wheat-posts-steepest-weekly-decline-in-half-a-year

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