# Wheat Prices Rising On Global Supply Issues

> Global futures fell sharply in the week to August 30 as the market digested the Pro Farmer tour results. The tour estimated the US corn yield at 177.3 bu/ac and the soybean yield at 53 bu/ac, which is 1.4 bu/ac above USDA's August forecast. Wheat fell most as funds liquidated more than 35% of their long positions.

- Date: 2018-08-30 · published 2018-08-30T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/63586-wheat-prices-rising-on-global-supply-issues
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A larger US corn and soybean crop plus lower Chinese import demand from the trade war weighs on feed grain and soymeal prices. Wheat losses reflect fund liquidation rather than a change in fundamentals.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2019-01-25 | [IGC updates global grain supply situation - wheat](https://feedsoft.ai/events/61036-igc-updates-global-grain-supply-situation-wheat.md) | +0.9% | +1.4% |
| CORN | 2021-12-09 | [December 2021 WASDE: Wheat takes the hit on easing supply pressure](https://feedsoft.ai/events/43524-december-2021-wasde-wheat-takes-the-hit-on-easing-supply-pressure.md) | -0.4% | -0.7% |
| CORN | 2019-01-29 | [The seasonal decline in supply raises prices on corn](https://feedsoft.ai/events/61121-the-seasonal-decline-in-supply-raises-prices-on-corn.md) | -0.4% | +0.0% |
| CORN | 2024-02-25 | [Wheat, feed grains and oilseeds prices under pressure as global supply builds \| Queensland Country Life \| QLD](https://feedsoft.ai/events/8028-wheat-feed-grains-and-oilseeds-prices-under-pressure-as-global-supply-builds.md) | +0.5% | +7.8% |
| CORN | 2020-05-14 | [Wheat dips to near 2-month low on abundant global supplies \| Financial Post](https://feedsoft.ai/events/12705-wheat-dips-to-near-2-month-low-on-abundant-global-supplies-financial-post.md) | -0.0% | +1.8% |
| SOY | 2020-05-14 | [Wheat dips to near 2-month low on abundant global supplies \| Financial Post](https://feedsoft.ai/events/12705-wheat-dips-to-near-2-month-low-on-abundant-global-supplies-financial-post.md) | +1.3% | +3.6% |
| SOY | 2016-07-18 | [Grain Supply and Demand report sends grain prices falling](https://feedsoft.ai/events/7417-grain-supply-and-demand-report-sends-grain-prices-falling.md) | -6.2% | -6.5% |
| SOY | 2024-04-29 | [Global soybean glut could pressure canola prices](https://feedsoft.ai/events/30832-global-soybean-glut-could-pressure-canola-prices.md) | +3.6% | +7.6% |

## Sources

- grainbrokers.com.au: https://www.grainbrokers.com.au/sell-the-rumour-buy-the-fact/

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