# Bumpy ride for wheat futures | The Land | NSW

> Drought and record heat continue across eastern Australia's grain belt, forcing some southern slope farmers to buy barley to feed livestock. Spot barley is trading around A$320 a tonne ex farm in the central west. USDA raised world wheat ending stocks by 2 million tonnes to 271 million.

- Date: 2018-04-26 · published 2018-04-26T12:00:00.000Z
- Category: weather · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/11224-bumpy-ride-for-wheat-futures-the-land-nsw
- Commodities: [Barley](https://feedsoft.ai/c/BARLEY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Drought-driven on-farm feeding and destocking support Australian barley prices and can tighten feed grain supply. The larger USDA global wheat carryout offsets some of that support for wheat.

## Read by commodity

- WHEAT: neutral
- BARLEY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2020-08-13 | [Labour concerns loom for bumper harvest \| The Land \| NSW](https://feedsoft.ai/events/51557-labour-concerns-loom-for-bumper-harvest-the-land-nsw.md) | +0.7% | +11.5% |
| WHEAT | 2022-08-17 | [Harvest plans critical for another big crop  \| The Land \| NSW](https://feedsoft.ai/events/40016-harvest-plans-critical-for-another-big-crop-the-land-nsw.md) | -10.0% | -10.7% |
| WHEAT | 2019-04-06 | [Midwest Rains Creating a Bullish View of Wheat Futures](https://feedsoft.ai/events/11374-midwest-rains-creating-a-bullish-view-of-wheat-futures.md) | +3.3% | -7.8% |
| WHEAT | 2019-08-01 | [Wheat Defies the Odds](https://feedsoft.ai/events/57619-wheat-defies-the-odds.md) | -0.7% | -0.2% |
| WHEAT | 2024-01-08 | [El Niño winter comes for wheat](https://feedsoft.ai/events/32049-el-nino-winter-comes-for-wheat.md) | -2.5% | -2.2% |

## Sources

- theland.com.au: https://www.theland.com.au/story/5361367/grain-update-bumpy-ride-for-wheat-futures/

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