# Forecasts of a good wheat harvest in the US and the EU continue to lower stock prices

> Wheat prices fell 2.5-4.2% in the week as forecasts improved for EU and US crops after heavy rain, and traders took profits after a April-May rally. SovEcon cut its 2024 Russian wheat forecast to 85.7 million tons, while Strategie Grains raised its EU soft wheat forecast.

- Date: 2024-05-17 · published 2024-05-17T12:00:00.000Z
- Category: weather · region Global · magnitude medium
- Page: https://feedsoft.ai/events/10908-forecasts-of-a-good-wheat-harvest-in-the-us-and-the-eu-continue-to-lower-stock
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Improving Northern Hemisphere crop prospects offset Russian weather losses, pressuring wheat values. Feed buyers should expect softer wheat feed alternatives if the outlook holds.

## Read by commodity

- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2023-08-30 | [Despite the decrease in the forecast for the harvest in Canada, wheat prices fell by 1.3-3.3%](https://feedsoft.ai/events/34633-despite-the-decrease-in-the-forecast-for-the-harvest-in-canada-wheat-prices.md) | +0.2% | +1.5% |
| WHEAT | 2023-05-28 | [Wheat harvests in Europe keep global food costs under control \| The National](https://feedsoft.ai/events/35922-wheat-harvests-in-europe-keep-global-food-costs-under-control-the-national.md) | -1.4% | -1.7% |
| WHEAT | 2025-08-27 | [Analysts lift Australia's wheat harvest forecast on improved crop conditions — TradingView News](https://feedsoft.ai/events/23270-analysts-lift-australia-s-wheat-harvest-forecast-on-improved-crop-conditions.md) | +0.1% | -0.9% |
| WHEAT | 2026-10-29 | [Mid North harvest: growers eye top yields as grain prices fall \| Stock Journal \| SA](https://feedsoft.ai/events/2036-mid-north-harvest-growers-eye-top-yields-as-grain-prices-fall-stock-journal-sa.md) | -0.4% | — |
| WHEAT | 2020-05-31 | [Growers in most states welcome wet winter weather forecast for crops \| The Land \| NSW](https://feedsoft.ai/events/53050-growers-in-most-states-welcome-wet-winter-weather-forecast-for-crops-the-land.md) | -1.2% | -1.0% |
| KWHEAT | 2023-08-30 | [Despite the decrease in the forecast for the harvest in Canada, wheat prices fell by 1.3-3.3%](https://feedsoft.ai/events/34633-despite-the-decrease-in-the-forecast-for-the-harvest-in-canada-wheat-prices.md) | +4.5% | -2.8% |
| KWHEAT | 2023-11-16 | [Winter wheat crop gets off to good start in U.S. \| The Western Producer](https://feedsoft.ai/events/12255-winter-wheat-crop-gets-off-to-good-start-in-u-s-the-western-producer.md) | -3.9% | -2.0% |
| KWHEAT | 2025-03-25 | [Wheat prices fall amid increased rainfall in the US, Ukraine and Russia, which increases pressure on prices in Ukraine](https://feedsoft.ai/events/25622-wheat-prices-fall-amid-increased-rainfall-in-the-us-ukraine-and-russia-which.md) | -3.6% | -5.5% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/forecasts-of-a-good-wheat-harvest-in-the-us-and-the-eu-continue-to-lower-stock-prices/

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