# USDA adjusts global grain production forecasts | Feed & Grain

> The USDA's October World Markets and Trade report cut 2024/25 global wheat output for the EU, Russia, India and Brazil while global production stays at a record. Domestic US wheat prices rose on tighter global supplies, and EU and Russian quotes gained $14/ton. The report also noted India lifting its non-basmati rice export ban with a $490/ton minimum export price, which is pushing rice prices lower.

- Date: 2024-10-14 · published 2024-10-14T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/27918-usda-adjusts-global-grain-production-forecasts-feed-and-grain
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Rough Rice](https://feedsoft.ai/c/RICE.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Lower wheat supplies in major exporters support wheat prices, while India's rice export reopening weighs on global rice prices and may lower feed-grade alternatives.

## Read by commodity

- CORN: neutral
- RICE: bearish ▼
- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-08-17 | [USDA slashes global wheat production - Grain Central](https://feedsoft.ai/events/45538-usda-slashes-global-wheat-production-grain-central.md) | +0.1% | +3.4% |
| WHEAT | 2017-08-10 | [USDA Forecasts Record-High Soybean Production in 2017](https://feedsoft.ai/events/69299-usda-forecasts-record-high-soybean-production-in-2017.md) | -0.2% | -0.6% |
| WHEAT | 2026-04-29 | [Australia’s wheat production forecast to drop \| World Grain](https://feedsoft.ai/events/19682-australia-s-wheat-production-forecast-to-drop-world-grain.md) | -3.1% | -0.4% |
| WHEAT | 2021-10-01 | [Coceral lowers EU grain production forecast \| Miller Magazine](https://feedsoft.ai/events/44482-coceral-lowers-eu-grain-production-forecast-miller-magazine.md) | +5.1% | +8.6% |
| WHEAT | 2026-04-23 | [EU overall grains production forecast to decline \| World Grain](https://feedsoft.ai/events/19660-eu-overall-grains-production-forecast-to-decline-world-grain.md) | +1.4% | +2.5% |
| KWHEAT | 2021-08-17 | [USDA slashes global wheat production - Grain Central](https://feedsoft.ai/events/45538-usda-slashes-global-wheat-production-grain-central.md) | -4.4% | -6.8% |
| KWHEAT | 2020-07-14 | [Global wheat production on the decline - Grain Central](https://feedsoft.ai/events/52052-global-wheat-production-on-the-decline-grain-central.md) | -1.2% | -6.0% |
| KWHEAT | 2022-05-13 | [USDA: U.S. Corn Production to Drop 4.3%](https://feedsoft.ai/events/13358-usda-u-s-corn-production-to-drop-4-3.md) | +3.3% | -7.3% |

## Sources

- feedandgrain.com: https://www.feedandgrain.com/grain-supply-chain/news/15705798/usda-adjusts-global-grain-production-forecasts

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