# Positives and negatives both loom in cereal outlook - AgCanada

> Analysts from FarmLink Marketing Solutions presented their cereal outlook at the Grain World conference in Winnipeg, citing USDA estimates of global wheat output at about 734 million tonnes, down 30 million from 2017. Canadian wheat exports, excluding durum, are estimated at 18.5 million tonnes, one of the larger totals in five years.

- Date: 2018-11-17 · published 2018-11-17T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/11724-positives-and-negatives-both-loom-in-cereal-outlook-agcanada
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md), [Oats](https://feedsoft.ai/c/OATS.md)

## Why it matters

A smaller global wheat crop combined with stock drawdowns among major exporters and rising consumption of 1.5 to 2 percent per year supports wheat prices. Heavy Russian export shipments may limit later support.

## Read by commodity

- OATS: neutral
- WHEAT: bullish ▲
- BARLEY: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2020-12-10 | [CBOT weekly outlook: Some surprises in USDA's WASDE - AgCanada](https://feedsoft.ai/events/49579-cbot-weekly-outlook-some-surprises-in-usda-s-wasde-agcanada.md) | -1.5% | +4.0% |
| WHEAT | 2021-01-14 | [ICE weekly outlook: WASDE spillover boosts canola - AgCanada](https://feedsoft.ai/events/49257-ice-weekly-outlook-wasde-spillover-boosts-canola-agcanada.md) | +1.4% | -5.0% |
| WHEAT | 2021-09-07 | [World food prices jump in Aug, cereal harvest outlook cut -FAO - Cafe Aberto](https://feedsoft.ai/events/45161-world-food-prices-jump-in-aug-cereal-harvest-outlook-cut-fao-cafe-aberto.md) | +1.8% | +5.2% |
| WHEAT | 2017-06-02 | [EU cuts cereal crop outlook as drought in Spain hits barley – Customs Today Newspaper](https://feedsoft.ai/events/70549-eu-cuts-cereal-crop-outlook-as-drought-in-spain-hits-barley-customs-today.md) | +0.7% | -0.1% |
| WHEAT | 2017-07-03 | [World crop outlook breathes life into wheat prices - Grain Central](https://feedsoft.ai/events/6179-world-crop-outlook-breathes-life-into-wheat-prices-grain-central.md) | -0.1% | +1.9% |
| KWHEAT | 2018-03-06 | [Mixed outlook for Australian grain/cotton prospects: ABARES - Grain Central](https://feedsoft.ai/events/65948-mixed-outlook-for-australian-grain-cotton-prospects-abares-grain-central.md) | -4.6% | -9.1% |
| KWHEAT | 2021-01-29 | [Winter 2021 Wheat Supply and Demand Outlook](https://feedsoft.ai/events/49176-winter-2021-wheat-supply-and-demand-outlook.md) | -1.2% | -0.2% |
| KWHEAT | 2021-07-30 | [A new decline in crop forecasts for the US, Canada and Russia continued to raise wheat prices](https://feedsoft.ai/events/46103-a-new-decline-in-crop-forecasts-for-the-us-canada-and-russia-continued-to-raise.md) | +2.5% | +6.1% |

## Sources

- agcanada.com: https://www.agcanada.com/daily/positives-and-negatives-both-loom-in-cereal-outlook

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