# WASDE tips wheat into neutral territory - Mecardo

> The USDA's July WASDE raised world wheat production by 6 million tonnes, led by a 3.5 million tonne increase in the US, and raised corn output by 4 million tonnes. Global wheat ending stocks were put at 257 million tonnes, still at an 11-year low on a stocks-to-use basis.

- Date: 2024-07-16 · published 2024-07-16T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/29196-wasde-tips-wheat-into-neutral-territory-mecardo
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Higher US wheat and corn supplies are bearish for grain prices, though low stocks-to-use provides some support.

## Read by commodity

- SOY: neutral
- CORN: bearish ▼
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2019-04-09 | [WASDE Bearish as Expected on Corn and Wheat, Neutral on Soybeans](https://feedsoft.ai/events/59543-wasde-bearish-as-expected-on-corn-and-wheat-neutral-on-soybeans.md) | -0.5% | -10.8% |
| WHEAT | 2022-08-15 | [WASDE adds 3Mt to Australian wheat estimate - Grain Central](https://feedsoft.ai/events/40015-wasde-adds-3mt-to-australian-wheat-estimate-grain-central.md) | -1.7% | -10.8% |
| WHEAT | 2022-11-14 | [WASDE lifts Aus wheat, barley forecasts - Grain Central](https://feedsoft.ai/events/38637-wasde-lifts-aus-wheat-barley-forecasts-grain-central.md) | +0.8% | +0.0% |
| WHEAT | 2018-07-13 | [Changes in Wheat Volume in July WASDE - Northern Ag Network](https://feedsoft.ai/events/64004-changes-in-wheat-volume-in-july-wasde-northern-ag-network.md) | +3.7% | +9.0% |
| WHEAT | 2023-06-09 | [Wheat bears follow June WASDE](https://feedsoft.ai/events/35448-wheat-bears-follow-june-wasde.md) | +0.5% | +2.4% |
| CORN | 2019-04-09 | [WASDE Bearish as Expected on Corn and Wheat, Neutral on Soybeans](https://feedsoft.ai/events/59543-wasde-bearish-as-expected-on-corn-and-wheat-neutral-on-soybeans.md) | +1.8% | -0.5% |
| CORN | 2021-07-13 | [WASDE update: Global wheat stocks tighten \| articles \| ING THINK](https://feedsoft.ai/events/46007-wasde-update-global-wheat-stocks-tighten-articles-ing-think.md) | -10.7% | -12.3% |
| CORN | 2023-09-13 | [WASDE update: Tighter wheat and looser corn market \| articles \| ING THINK](https://feedsoft.ai/events/34042-wasde-update-tighter-wheat-and-looser-corn-market-articles-ing-think.md) | -7.1% | -5.9% |

## Sources

- mecardo.com.au: https://mecardo.com.au/wasde-tips-wheat-into-neutral-territory/

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