# U.S. grains: CBOT wheat nears two-month low - Country Guide

> CBOT March wheat settled 31 cents lower at $7.56 per bushel, near a two-month low, and European wheat fell about 3%. Corn followed wheat lower while January soybeans rose 3 cents after a smaller-than-expected U.S. soybean crush.

- Date: 2021-12-16 · published 2021-12-16T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/8015-u-s-grains-cbot-wheat-nears-two-month-low-country-guide
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A record Australian harvest and Black Sea competition add supply pressure on global wheat prices. Cheaper wheat can substitute for corn in feed rations and pull corn prices lower.

## Read by commodity

- SOY: bullish ▲
- CORN: bearish ▼
- WHEAT: bearish ▼

## Sources

- country-guide.ca: https://www.country-guide.ca/daily/u-s-grains-cbot-wheat-nears-two-month-low/

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