# Russia, India set to spark major swing in global wheat balance

> Reuters reports that Russian crop losses and expected Indian wheat imports could together cut global wheat supplies by as much as 17 million tons versus earlier expectations. The shortfall equals about 8% of USDA's 2024-25 world wheat export forecast.

- Date: 2024-05-31 · published 2024-05-31T12:00:00.000Z
- Category: weather · region Global · magnitude medium
- Page: https://feedsoft.ai/events/30288-russia-india-set-to-spark-major-swing-in-global-wheat-balance
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A tighter exportable supply from Russia and stronger Indian import demand would reduce available wheat for importers and support global wheat prices.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| KWHEAT | 2023-09-14 | [Tight global wheat story is stuck on repeat, supporting market bears  \| Reuters](https://feedsoft.ai/events/34029-tight-global-wheat-story-is-stuck-on-repeat-supporting-market-bears-reuters.md) | -1.1% | -9.5% |
| KWHEAT | 2023-08-02 | [Weather woes, Russia upend outlook for global wheat suppliers \| Reuters](https://feedsoft.ai/events/34622-weather-woes-russia-upend-outlook-for-global-wheat-suppliers-reuters.md) | -4.2% | -11.2% |
| KWHEAT | 2024-04-26 | [Dry Russian winter wheat areas in focus: Grain market daily \| AHDB](https://feedsoft.ai/events/12145-dry-russian-winter-wheat-areas-in-focus-grain-market-daily-ahdb.md) | +0.8% | +12.5% |
| KWHEAT | 2019-12-10 | [What Surprises Are Stirring the Global Wheat Markets? \| CZ app](https://feedsoft.ai/events/10580-what-surprises-are-stirring-the-global-wheat-markets-cz-app.md) | +12.3% | +16.6% |
| KWHEAT | 2022-05-31 | [Insight: U.S. wheat crop hit by dry winter then soggy spring, adding to global tightness \| Reuters](https://feedsoft.ai/events/41447-insight-u-s-wheat-crop-hit-by-dry-winter-then-soggy-spring-adding-to-global.md) | -5.3% | -20.4% |
| WHEAT | 2021-05-13 | [A"maize"ing global support for wheat prices \| The Land \| NSW](https://feedsoft.ai/events/47137-a-maize-ing-global-support-for-wheat-prices-the-land-nsw.md) | -1.8% | -4.6% |
| WHEAT | 2023-09-14 | [Tight global wheat story is stuck on repeat, supporting market bears  \| Reuters](https://feedsoft.ai/events/34029-tight-global-wheat-story-is-stuck-on-repeat-supporting-market-bears-reuters.md) | +0.5% | -2.1% |
| WHEAT | 2023-08-02 | [Weather woes, Russia upend outlook for global wheat suppliers \| Reuters](https://feedsoft.ai/events/34622-weather-woes-russia-upend-outlook-for-global-wheat-suppliers-reuters.md) | +0.8% | -7.4% |

## Sources

- reuters.com: https://www.reuters.com/markets/commodities/russia-india-set-spark-major-swing-global-wheat-balance-2024-05-31/

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