# Markets await direction, meantime, steady as she goes - Grain Central

> Nidera Australia's Peter McMeekin says US wheat and corn futures have been range-bound for weeks as the market looks for a new driver. Southern Hemisphere harvests are starting, and US corn and soybean harvests are advancing. The latest WASDE put 2017/18 world wheat output above 751 Mt, only 3 Mt below last season's record, with carry-out forecast at a record 268 Mt.

- Date: 2017-10-24 · published 2017-10-24T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/68397-markets-await-direction-meantime-steady-as-she-goes-grain-central
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Record world wheat supplies and a record carry-out keep the downside pressure on prices, while the lack of a new catalyst leaves the market directionless until Argentine and Australian supply becomes clear.

## Read by commodity

- CORN: neutral
- WHEAT: neutral

## Sources

- graincentral.com: https://www.graincentral.com/cropping/markets-await-direction-meantime-steady-as-she-goes/

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