# U.S. grains: Wheat falls to contract lows on technical selling - Grainews

> US wheat futures fell to contract lows on Tuesday for a fifth straight session, driven by technical selling after prices broke below a two-month low. The decline occurred despite a USDA-confirmed sale of 100,000 tonnes of hard red winter wheat to Iraq and a crop condition report showing only 52% of the US winter wheat crop in good to excellent condition.

- Date: 2017-10-31 · published 2017-10-31T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/68500-u-s-grains-wheat-falls-to-contract-lows-on-technical-selling-grainews
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Technical selling pressure pushed wheat futures lower even with supportive export and crop-condition news, so near-term wheat prices remain weak. Cheaper wheat lowers the cost of wheat-based feed ingredients.

## Read by commodity

- CORN: bearish ▼
- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Sources

- grainews.ca: https://www.grainews.ca/daily/u-s-grains-wheat-falls-to-contract-lows-on-technical-selling/

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