# New contract lows - Agweek | #1 source for agriculture news, farming, markets

> Agriculture and Agri-Food Canada cut its all-wheat forecast by 1.1 million tonnes to 27.3 million, a five-year low, and lowered durum to 5 million tonnes. Higher Russian wheat estimates pushed Black Sea wheat export prices down to $183 per tonne, the lowest since early June.

- Date: 2017-08-26 · published 2017-08-26T12:00:00.000Z
- Category: report · region Canada · magnitude medium
- Page: https://feedsoft.ai/events/69471-new-contract-lows-agweek-1-source-for-agriculture-news-farming-markets
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Lower Canadian output supports wheat prices in some origins, but larger Russian supplies and cheaper Black Sea offers add competition that weighs on global wheat values.

## Read by commodity

- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| KWHEAT | 2017-03-19 | [Markets preparing for spring - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/10725-markets-preparing-for-spring-agweek-1-source-for-agriculture-news-farming.md) | -5.6% | -8.2% |
| KWHEAT | 2017-07-16 | [Supply report hurts markets - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/69893-supply-report-hurts-markets-agweek-1-source-for-agriculture-news-farming-markets.md) | -0.6% | -11.6% |
| KWHEAT | 2020-05-17 | [WASDE not as bad as expected, for now - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/53062-wasde-not-as-bad-as-expected-for-now-agweek-1-source-for-agriculture-news.md) | -1.7% | -1.4% |
| KWHEAT | 2019-10-13 | [USDA's estimates baffle the trade - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/56501-usda-s-estimates-baffle-the-trade-agweek-1-source-for-agriculture-news-farming.md) | +3.4% | +0.5% |
| KWHEAT | 2023-08-11 | [August WASDE cuts export expectations for corn, soybeans and wheat - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/12249-august-wasde-cuts-export-expectations-for-corn-soybeans-and-wheat-agweek-1.md) | -4.4% | -5.5% |
| WHEAT | 2017-03-19 | [Markets preparing for spring - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/10725-markets-preparing-for-spring-agweek-1-source-for-agriculture-news-farming.md) | -2.8% | -0.8% |
| WHEAT | 2017-07-16 | [Supply report hurts markets - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/69893-supply-report-hurts-markets-agweek-1-source-for-agriculture-news-farming-markets.md) | -1.0% | -1.4% |
| WHEAT | 2017-12-17 | [Reports confirm large supplies - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/8429-reports-confirm-large-supplies-agweek-1-source-for-agriculture-news-farming.md) | +0.3% | +0.8% |

## Sources

- agweek.com: https://www.agweek.com/opinion/new-contract-lows

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