# Crop estimates shrink, again | The Land | NSW

> CBOT December wheat fell to 485.5 cents a bushel, its lowest since January, on doubts that US exports can recover, then rallied after a Egyptian tender showed US wheat offered at the same FOB price as the cheapest Russian wheat. Australian cash wheat prices were reported well above CBOT-implied levels due to a poor local crop.

- Date: 2018-10-29 · published 2018-10-29T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/62495-crop-estimates-shrink-again-the-land-nsw
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Competitive US wheat pricing into Middle East markets can shift export flows away from Russia, while tight Australian supply keeps domestic cash prices elevated.

## Read by commodity

- WHEAT: neutral
- KWHEAT: neutral

## Sources

- theland.com.au: https://www.theland.com.au/story/5724581/smart-marketing-crop-estimates-shrink-again/

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