# Strong export demand boosts wheat, corn performance - Agweek | #1 source for agriculture news, farming, markets

> China bought 1.01 million tonnes of US soft red winter wheat in the week, bringing marketing-year purchases to 1.8 million tonnes, the highest since 2020. Statistics Canada raised its wheat production estimate to 31.95 million tonnes, above expectations, which weighed on Minneapolis spring wheat. Durum output fell 30%.

- Date: 2023-12-15 · published 2023-12-15T12:00:00.000Z
- Category: trade · region China · magnitude medium
- Page: https://feedsoft.ai/events/9994-strong-export-demand-boosts-wheat-corn-performance-agweek-1-source-for
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Chinese purchases support US wheat export demand and Chicago prices. Larger Canadian supplies, especially spring wheat, pressure Minneapolis prices.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2016-11-28 | [Soybeans rise 1.2 percent on strong U.S. exports, weaker dollar - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/73899-soybeans-rise-1-2-percent-on-strong-u-s-exports-weaker-dollar-agweek-1-source.md) | -2.1% | +0.9% |
| WHEAT | 2019-10-27 | [A look at the demand side, even while harvest continues - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/56671-a-look-at-the-demand-side-even-while-harvest-continues-agweek-1-source-for.md) | -0.2% | +6.0% |
| WHEAT | 2017-05-21 | [Political turmoil affects markets - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/10224-political-turmoil-affects-markets-agweek-1-source-for-agriculture-news-farming.md) | +2.9% | +2.4% |
| WHEAT | 2019-11-17 | [Markets follow 'buy the rumor, sell the fact' rule - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/11889-markets-follow-buy-the-rumor-sell-the-fact-rule-agweek-1-source-for-agriculture.md) | +3.8% | +3.1% |
| WHEAT | 2019-01-20 | [Even slightly bullish news gives markets some movement - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/12388-even-slightly-bullish-news-gives-markets-some-movement-agweek-1-source-for.md) | +3.3% | +2.1% |
| KWHEAT | 2019-02-13 | [Russian dominance over world wheat markets slows - Farmers Weekly](https://feedsoft.ai/events/60537-russian-dominance-over-world-wheat-markets-slows-farmers-weekly.md) | -8.5% | -12.7% |
| KWHEAT | 2024-11-01 | [U.S. grains: Corn ticks up on export demand, easing harvest pressure - Grainews](https://feedsoft.ai/events/27421-u-s-grains-corn-ticks-up-on-export-demand-easing-harvest-pressure-grainews.md) | -0.0% | -8.5% |
| KWHEAT | 2023-11-02 | [Ag Market Update: Wheat Prices Drop, China Becomes Top Wheat Importer, and Soybean Complex Dynamics - IASG](https://feedsoft.ai/events/33221-ag-market-update-wheat-prices-drop-china-becomes-top-wheat-importer-and-soybean.md) | +2.3% | +0.5% |

## Sources

- agweek.com: https://www.agweek.com/business/markets/strong-export-demand-boosts-wheat-corn-performance

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