# Wheat hits 1-wk low on higher US output, soybean prices ease

> Wheat fell to a one-week low on higher U.S. output and soybean prices eased. Australia's wheat crop is likely to fall to its lowest since 2007/08 amid persistent dry weather, according to a Reuters poll. Speculators increased net short positions in corn futures.

- Date: 2017-10-02 · published 2017-10-02T12:00:00.000Z
- Category: weather · region Global · magnitude low
- Page: https://feedsoft.ai/events/7537-wheat-hits-1-wk-low-on-higher-us-output-soybean-prices-ease
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Dry weather in Australia could tighten global wheat supplies and support prices, but U.S. production gains offset that near term. Soybean weakness reflects ample supply and pressure from the stocks report.

## Read by commodity

- SOY: bearish ▼
- WHEAT: bearish ▼
- KWHEAT: neutral

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2017-10-02 | 1 | +3.4% | 3.3 | Dated on the move's end date, it reports wheat at a one-week low on higher US output, which directly describes the price action and its supply-driven mechanism. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2025-04-28 | [Euronext Wheat Prices Hit New Lows Amid Wetter US Plains - Finimize](https://feedsoft.ai/events/25160-euronext-wheat-prices-hit-new-lows-amid-wetter-us-plains-finimize.md) | -0.9% | -4.3% |
| WHEAT | 2022-11-25 | [GRAINS-Corn Futures Turn Higher, Wheat Hits Months-low on Choppy Trading Day](https://feedsoft.ai/events/12219-grains-corn-futures-turn-higher-wheat-hits-months-low-on-choppy-trading-day.md) | -1.0% | -3.4% |
| WHEAT | 2017-01-03 | [U.S. grains: Soy hits six-week low on South American prospects - Grainews](https://feedsoft.ai/events/73024-u-s-grains-soy-hits-six-week-low-on-south-american-prospects-grainews.md) | +2.7% | +3.4% |
| WHEAT | 2022-06-23 | [Corn, Soybeans and Wheat Prices Plummet Thursday, Weather is Only Part of the Reason Why - AgWeb](https://feedsoft.ai/events/12698-corn-soybeans-and-wheat-prices-plummet-thursday-weather-is-only-part-of-the.md) | +1.7% | -4.4% |
| WHEAT | 2017-01-11 | [U.S. grains: Wheat hits one-week low on Plains forecasts \| Farmtario](https://feedsoft.ai/events/73032-u-s-grains-wheat-hits-one-week-low-on-plains-forecasts-farmtario.md) | +0.6% | +4.9% |
| KWHEAT | 2025-02-18 | [Wheat eases from 4-month highs, soybean flat - Markets - Business Recorder](https://feedsoft.ai/events/26078-wheat-eases-from-4-month-highs-soybean-flat-markets-business-recorder.md) | -4.0% | -2.5% |
| KWHEAT | 2024-05-17 | [Wheat rises on Russian crop woes, but US production outlook limits gains - Markets - Business Recorder](https://feedsoft.ai/events/4593-wheat-rises-on-russian-crop-woes-but-us-production-outlook-limits-gains-markets.md) | +5.6% | -6.8% |
| KWHEAT | 2017-04-05 | [Wheat production likely to be lower](https://feedsoft.ai/events/71542-wheat-production-likely-to-be-lower.md) | +1.9% | +6.8% |

## Sources

- reuters.com: https://www.reuters.com/article/world/us/wheat-hits-1-wk-low-on-higher-us-output-soybean-prices-ease-idUSL4N1MD1F8/

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