# Wheat Market Outlook – August 19, 2024 | Sask Wheat

> The IGC cut its 2024/25 global wheat production estimate to 799 million mt, two million lower than in June, and carry-out stocks fell three million mt to 266 million mt. CBOT SRW, KC HRW and Minneapolis HRS futures all closed the week lower, and FOB cash values had dropped toward July 2020 levels.

- Date: 2024-08-19 · published 2024-08-19T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/28841-wheat-market-outlook-august-19-2024-sask-wheat
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Tighter stocks for a second straight year are supportive, but the sharp price decline shows the market is still well supplied, which keeps feed wheat competitively priced against corn.

## Read by commodity

- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Sources

- saskwheat.ca: https://saskwheat.ca/wheat-market-outlook/wheat-market-outlook-august-19-2024/

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