# Global: Fierce export competition fuels falling prices

> European wheat fell below 210 euros per tonne and corn below 180 euros per tonne on February 7, 2024, with corn at its lowest in about two and a half years. Russia still held large wheat volumes on farms, and Ukraine and Russia were competing aggressively for export sales.

- Date: 2024-02-07 · published 2024-02-07T12:00:00.000Z
- Category: trade · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/7203-global-fierce-export-competition-fuels-falling-prices
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Large Black Sea and European export supplies and fierce price competition cap wheat and corn price gains until the summer harvest.

## Read by commodity

- CORN: bearish ▼
- WHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2024-02-12 | 1 | -2.9% | -3.2 | Aggressive Russian and Ukrainian export competition and weak European wheat prices (below 210 EUR/t) weigh on global wheat price levels, a plausible contributor to SRW weakness, though dated several days before the move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2019-07-10 | [Cereals: EU faces fiercer competition from Russia - Mundus Agri](https://feedsoft.ai/events/58037-cereals-eu-faces-fiercer-competition-from-russia-mundus-agri.md) | +0.5% | -2.8% |
| WHEAT | 2022-12-05 | [Wheat plunges to 3-month low on export competition](https://feedsoft.ai/events/6642-wheat-plunges-to-3-month-low-on-export-competition.md) | -9.5% | -0.8% |
| 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 | 2022-08-22 | [Australian wheat under pressure from Ukraine, South America competition \| S&P Global](https://feedsoft.ai/events/40017-australian-wheat-under-pressure-from-ukraine-south-america-competition-s-and-p.md) | -9.3% | -9.7% |
| 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% |
| CORN | 2022-12-05 | [Wheat plunges to 3-month low on export competition](https://feedsoft.ai/events/6642-wheat-plunges-to-3-month-low-on-export-competition.md) | -0.2% | +4.7% |
| CORN | 2018-08-22 | [China’s global currency aspirations are falling fast](https://feedsoft.ai/events/10043-china-s-global-currency-aspirations-are-falling-fast.md) | -3.1% | -3.4% |

## Sources

- tridge.com: https://www.tridge.com/news/fierce-export-competition-fuels-falling-prices

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