# Wheat drops to lowest in more than three months on supply pressure - Markets - Business Recorder

> Chicago wheat fell to its lowest in over three months as harvest pressure from the US and Russia weighed on prices. Soybeans hit their lowest level in four years and corn slipped on expectations of ample global supplies.

- Date: 2024-07-15 · published 2024-07-15T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/9368-wheat-drops-to-lowest-in-more-than-three-months-on-supply-pressure-markets
- 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

Harvest supply growth and a large USDA corn crop estimate point to continued downward pressure on feed grain and wheat prices.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SOY | 2024-07-14 | 1 | -5.0% | -5.0 | Soybeans hit a four-year low amid ample global supply expectations, consistent with the sharp decline. |

## Sources

- brecorder.com: https://www.brecorder.com/news/40312940

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