# Are we near the bottom?  — This week in the grain markets - RealAgriculture

> Grain markets ended lower during the week amid coronavirus concerns and volatile equities, with stimulus measures announced by several governments. ABARES forecast Australian wheat plantings up nearly 20% to 29.7 million hectares and 2020/21 wheat output of 21.3 million tonnes, a 40% rebound from the prior year's downgraded harvest.

- Date: 2020-03-07 · published 2020-03-07T12:00:00.000Z
- Category: report · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/7988-are-we-near-the-bottom-this-week-in-the-grain-markets-realagriculture
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

A large expected Australian wheat recovery adds export supply for 2020/21, which is bearish for world wheat prices, while coronavirus demand worries add further downside pressure.

## Read by commodity

- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2018-11-09 | [November WASDE puts damper on grain markets — This week in the grain markets - RealAgriculture](https://feedsoft.ai/events/61983-november-wasde-puts-damper-on-grain-markets-this-week-in-the-grain-markets.md) | -0.4% | +1.0% |
| WHEAT | 2020-09-11 | [September WASDE resets goalposts — This week in the grain markets - RealAgriculture](https://feedsoft.ai/events/51209-september-wasde-resets-goalposts-this-week-in-the-grain-markets-realagriculture.md) | +0.7% | +7.9% |
| WHEAT | 2020-06-07 | [Have the markets found a bottom? - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/9493-have-the-markets-found-a-bottom-agweek-1-source-for-agriculture-news-farming.md) | -0.3% | -6.4% |
| WHEAT | 2025-11-14 | [Markets react immediately to bearish WASDE reports - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/21889-markets-react-immediately-to-bearish-wasde-reports-agweek-1-source-for.md) | +1.4% | +1.0% |
| WHEAT | 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) | +4.5% | +1.5% |
| 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 | 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 | 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% |

## Sources

- realagriculture.com: https://www.realagriculture.com/2020/03/are-we-near-the-bottom-this-week-in-the-grain-markets/

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