# Wheat faces pressure from Black Sea export prices

> Chicago May wheat fell 3.6% to the lowest spot level since August 2020 after Algeria's OAIC reportedly bought about 900,000 tons of Black Sea wheat at roughly $227-228 per ton, well below its prior January tender. Paris and London feed wheat also declined.

- Date: 2024-03-11 · published 2024-03-11T12:00:00.000Z
- Category: market · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/7034-wheat-faces-pressure-from-black-sea-export-prices
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

Low Black Sea export prices set a competitive floor that pressures world wheat values and feed wheat prices in Europe and the UK.

## Read by commodity

- WHEAT: bearish ▼
- BARLEY: neutral

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/wheat-faces-pressure-from-black-sea-export-prices/

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