# Wheat prices soften ahead of harvest | The Land | NSW

> New-crop wheat bids in Australia fell in the week ending Sept. 17, 2021, after a sell-off in US futures and a stronger Australian dollar. ABARES raised its forecast for Australia's wheat harvest to a near-record 32.6 million tonnes. ASX wheat futures fell $20/t to $330/t over the week.

- Date: 2021-09-17 · published 2021-09-17T12:00:00.000Z
- Category: report · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/6382-wheat-prices-soften-ahead-of-harvest-the-land-nsw
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md), [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

A larger Australian wheat crop and firmer AUD reduce export competitiveness and pressure global wheat and barley prices. Australian feed grain buyers should expect lower new-crop wheat and barley prices.

## Read by commodity

- WHEAT: bearish ▼
- AUDUSD: bullish ▲
- BARLEY: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-06-08 | [Variable national harvest predicted \| The Land \| NSW](https://feedsoft.ai/events/46547-variable-national-harvest-predicted-the-land-nsw.md) | +6.1% | -4.4% |
| WHEAT | 2017-10-16 | [Global wheat production lifts \| The Land \| NSW](https://feedsoft.ai/events/68402-global-wheat-production-lifts-the-land-nsw.md) | -0.4% | -3.9% |
| WHEAT | 2018-06-18 | [Wheat support slips after USDA report \| The Land \| NSW](https://feedsoft.ai/events/12351-wheat-support-slips-after-usda-report-the-land-nsw.md) | -0.3% | -3.8% |
| WHEAT | 2021-02-17 | [Wheat record smashed, second largest crop overall \| The Land \| NSW](https://feedsoft.ai/events/48600-wheat-record-smashed-second-largest-crop-overall-the-land-nsw.md) | +0.8% | -0.3% |
| WHEAT | 2018-10-25 | [Argentina’s wheat game in good form \| The Land \| NSW](https://feedsoft.ai/events/62501-argentina-s-wheat-game-in-good-form-the-land-nsw.md) | +0.1% | -4.2% |

## Sources

- theland.com.au: https://www.theland.com.au/story/7429697/stronger-dollar-weighs-on-new-crop-wheat-bids/

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