# Bearish Wheat Market Outlook For Australian Growers

> A weekly commentary reports the US corn harvest at 52% complete and ahead of average, with 68% of the crop rated good to excellent. The US soybean harvest is about 50% complete and behind schedule, and sorghum harvest reached 48%, with US sorghum described as Australia's main competitor into China.

- Date: 2018-10-23 · published 2018-10-23T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/62603-bearish-wheat-market-outlook-for-australian-growers
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Sorghum](https://feedsoft.ai/c/SORGHUM.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Fast US corn harvest progress adds to ample supply, while slow soybean progress and damaged unharvested beans are supportive for soy, and US sorghum competition caps Australian sorghum export prices.

## Read by commodity

- SOY: bullish ▲
- CORN: bearish ▼
- WHEAT: neutral
- SORGHUM: bearish ▼

## Sources

- grainbrokers.com.au: https://www.grainbrokers.com.au/aussie-sorghum-prospects-improve/

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