# Wheat, feed grains and oilseeds prices under pressure as global supply builds | Queensland Country Life | QLD

> Domestic Australian grain bids fell across all port zones as global markets declined. Egypt's wheat tender drew nearly two million tonnes of mostly Russian offers and secured cargoes from Ukraine and Romania at sharply lower prices. USDA projected US corn stocks rising 17% to over 64 million tonnes in 2024/25.

- Date: 2024-02-25 · published 2024-02-25T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/8028-wheat-feed-grains-and-oilseeds-prices-under-pressure-as-global-supply-builds
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Barley](https://feedsoft.ai/c/BARLEY.md), [Sorghum](https://feedsoft.ai/c/SORGHUM.md)

## Why it matters

Heavy Black Sea supplies and a projected large US corn carryout point to continued downward pressure on feed grain prices. Low tender prices signal weak export demand from importers.

## Read by commodity

- CORN: bearish ▼
- WHEAT: bearish ▼
- BARLEY: bearish ▼
- SORGHUM: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2024-02-26 | 1 | -3.9% | -4.0 | Egypt's tender securing sharply lower-priced Russian, Ukrainian and Romanian wheat signals ample export supply and weak price levels, pressuring global wheat benchmarks. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2026-10-28 | [Wheat and barley markets face pressure as global grain supplies rise \| The Scottish Farmer](https://feedsoft.ai/events/123-wheat-and-barley-markets-face-pressure-as-global-grain-supplies-rise-the.md) | +0.2% | — |
| WHEAT | 2022-06-18 | [Australian wheat production forecast to top 30 million tonnes \| Queensland Country Life \| QLD](https://feedsoft.ai/events/40887-australian-wheat-production-forecast-to-top-30-million-tonnes-queensland.md) | -2.9% | -14.0% |
| WHEAT | 2018-08-30 | [Wheat Prices Rising On Global Supply Issues](https://feedsoft.ai/events/63586-wheat-prices-rising-on-global-supply-issues.md) | +4.7% | -1.6% |
| WHEAT | 2022-11-09 | [GRAINS-Wheat Drops as USDA Raises Global Supply View; Corn, Soybeans Firm](https://feedsoft.ai/events/38644-grains-wheat-drops-as-usda-raises-global-supply-view-corn-soybeans-firm.md) | +1.1% | -9.0% |
| WHEAT | 2020-06-22 | [Australian winter crop production set to soar \| Queensland Country Life \| QLD](https://feedsoft.ai/events/52593-australian-winter-crop-production-set-to-soar-queensland-country-life-qld.md) | +2.0% | -3.5% |
| CORN | 2018-08-30 | [Wheat Prices Rising On Global Supply Issues](https://feedsoft.ai/events/63586-wheat-prices-rising-on-global-supply-issues.md) | +2.0% | +4.0% |
| CORN | 2026-01-12 | [US corn and wheat supplies rise in latest WASDE \| Feed & Grain](https://feedsoft.ai/events/12589-us-corn-and-wheat-supplies-rise-in-latest-wasde-feed-and-grain.md) | -2.8% | -1.7% |
| CORN | 2017-07-12 | [Corn, winter wheat drag grains lower, as US supply](https://feedsoft.ai/events/69892-corn-winter-wheat-drag-grains-lower-as-us-supply.md) | -4.1% | -5.2% |

## Sources

- queenslandcountrylife.com.au: https://www.queenslandcountrylife.com.au/story/8526411/wheat-feed-grains-and-oilseeds-prices-under-pressure-as-global-supply-builds/

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