# Wheat plunges to 3-month low on export competition

> Chicago wheat fell to a three-month low as modest weekly U.S. export sales of 162,500 tonnes missed forecasts. Record Russian harvest and Ukrainian grain shipments increased competition, and Statistics Canada reported a smaller-than-expected Canadian crop.

- Date: 2022-12-05 · published 2022-12-05T12:00:00.000Z
- Category: trade · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/6642-wheat-plunges-to-3-month-low-on-export-competition
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Weak US export demand and cheaper Black Sea wheat push wheat lower, while corn and soybean weakness on export concerns adds to bearish feed-grain pressure.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2022-12-05 | 5 | -13.1% | -3.0 | Weak U.S. export sales, record Russian harvest and Ukrainian shipments raised export competition and drove Chicago wheat to a three-month low on the move's final day. |
| WHEAT | 2022-12-05 | 1 | -12.3% | -4.8 | Weak US export sales, record Russian harvest and Ukrainian shipments increased export competition, pushing Chicago wheat to a multi-month low on the move date. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-12-07 | [Wheat prices touch 14-month low on surging Russian exports - Nikkei Asia](https://feedsoft.ai/events/6645-wheat-prices-touch-14-month-low-on-surging-russian-exports-nikkei-asia.md) | +10.0% | +8.7% |
| WHEAT | 2026-09-21 | [Drought and Global Competition Are Weighing on US Wheat Exports](https://feedsoft.ai/events/17525-drought-and-global-competition-are-weighing-on-us-wheat-exports.md) | +3.5% | +0.7% |
| WHEAT | 2018-01-29 | [French wheat export target at risk as competition bites – Customs Today Newspaper](https://feedsoft.ai/events/66933-french-wheat-export-target-at-risk-as-competition-bites-customs-today-newspaper.md) | +0.2% | +2.1% |
| WHEAT | 2026-02-03 | [EU wheat faces stiff competition - Grain Central](https://feedsoft.ai/events/20528-eu-wheat-faces-stiff-competition-grain-central.md) | +0.0% | +4.5% |
| WHEAT | 2019-02-27 | [Russia could still export 4-5 million tons of wheat](https://feedsoft.ai/events/60447-russia-could-still-export-4-5-million-tons-of-wheat.md) | +1.3% | +5.4% |
| CORN | 2024-02-07 | [Global: Fierce export competition fuels falling prices](https://feedsoft.ai/events/7203-global-fierce-export-competition-fuels-falling-prices.md) | -1.1% | +0.3% |
| CORN | 2018-11-01 | [Wheat takes export spotlight](https://feedsoft.ai/events/62090-wheat-takes-export-spotlight.md) | +3.6% | -4.4% |
| CORN | 2017-05-22 | [Trade focusing on exports, global corn competition \| Crops \| leadertelegram.com](https://feedsoft.ai/events/70866-trade-focusing-on-exports-global-corn-competition-crops-leadertelegram-com.md) | +1.0% | +2.3% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/wheat-plunges-to-3-month-low-on-export-competition/

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