# IGC Cuts Global Wheat Crop Outlook Amid EU Harvest Woes | Global Banking & Finance Review

> The International Grains Council cut its 2024/25 world wheat production forecast by 2 million tons to 796 million, with EU output lowered to 120.3 million tons. It raised world corn slightly to 1.225 billion tons but trimmed soybeans by 2 million tons on a smaller US crop.

- Date: 2024-11-21 · published 2024-11-21T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/27358-igc-cuts-global-wheat-crop-outlook-amid-eu-harvest-woes-global-banking-and
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A smaller world wheat crop tightens export supplies and supports wheat prices, while the soybean cut adds modest support to meal. The corn change is too small to move prices much.

## Read by commodity

- SOY: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2026-05-20 | [Global Wheat Outlook & WASDE Balance Sheet](https://feedsoft.ai/events/19239-global-wheat-outlook-and-wasde-balance-sheet.md) | -1.5% | -1.6% |
| WHEAT | 2024-06-13 | [Strategie Grains cuts EU wheat crop forecast as harvesting starts - AgCanada](https://feedsoft.ai/events/29698-strategie-grains-cuts-eu-wheat-crop-forecast-as-harvesting-starts-agcanada.md) | -2.1% | -3.6% |
| WHEAT | 2026-05-22 | [Bad outlook for U.S. winter wheat crop gets worse](https://feedsoft.ai/events/19310-bad-outlook-for-u-s-winter-wheat-crop-gets-worse.md) | -1.3% | -0.8% |
| WHEAT | 2018-08-23 | [Global wheat harvest to fall for first time in six years: IGC - Grain Central](https://feedsoft.ai/events/63504-global-wheat-harvest-to-fall-for-first-time-in-six-years-igc-grain-central.md) | +1.6% | -0.1% |
| WHEAT | 2023-09-13 | [France cuts wheat crop estimate, raises maize](https://feedsoft.ai/events/34028-france-cuts-wheat-crop-estimate-raises-maize.md) | +0.6% | -1.7% |
| SOY | 2022-10-12 | [Soybeans rally after USDA cuts U.S. harvest outlook \| Financial Post](https://feedsoft.ai/events/39163-soybeans-rally-after-usda-cuts-u-s-harvest-outlook-financial-post.md) | -0.3% | +4.9% |
| SOY | 2022-02-09 | [USDA cuts global ending stocks for beans, wheat, cotton and corn - Pro Farmer](https://feedsoft.ai/events/42671-usda-cuts-global-ending-stocks-for-beans-wheat-cotton-and-corn-pro-farmer.md) | -1.1% | +7.5% |
| SOY | 2026-09-10 | [Argentina cuts soybean harvest outlook as corn margins improve
						 \| The Pig Site](https://feedsoft.ai/events/13776-argentina-cuts-soybean-harvest-outlook-as-corn-margins-improve-the-pig-site.md) | +1.9% | +0.2% |

## Sources

- globalbankingandfinance.com: https://www.globalbankingandfinance.com/igc-cuts-global-wheat-crop-outlook-on-poor-eu-harvest/

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