# Grain | Dry and supply driving price trends | VIC

> Wheat futures rose last week on speculative buying ahead of the USDA Quarterly Stocks Report and dry weather in Australia and the US winter wheat belt. Prices peaked midweek and then fell after USDA reports showed a larger-than-expected US spring wheat crop and higher-than-expected US wheat stocks. Australian new-crop prices also peaked near $270 per tonne.

- Date: 2017-10-03 · published 2017-10-03T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/10966-grain-dry-and-supply-driving-price-trends-vic
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A larger US spring wheat crop and higher stocks add supply to an already well-supplied market, pressuring wheat prices despite weather concerns in Australia and the US.

## Read by commodity

- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-11-09 | [Wheat prices hold near two-month lows, after US lifts world supply hopes - Grain Price News](https://feedsoft.ai/events/38647-wheat-prices-hold-near-two-month-lows-after-us-lifts-world-supply-hopes-grain.md) | +1.1% | -9.0% |
| WHEAT | 2017-01-13 | [Record surge in grain supply \| NSW](https://feedsoft.ai/events/72955-record-surge-in-grain-supply-nsw.md) | +0.2% | +5.4% |
| 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 | 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) | -2.2% | -2.1% |
| WHEAT | 2025-11-11 | [Surging wheat output weighing on prices \| World Grain](https://feedsoft.ai/events/21998-surging-wheat-output-weighing-on-prices-world-grain.md) | +2.0% | +1.0% |

## Sources

- stockandland.com.au: https://www.stockandland.com.au/story/4963050/dry-supply-drive-prices/

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