# Wheat Market Outlook – April 29, 2024 | Sask Wheat

> USDA's April report cut projected global wheat ending stocks for 2023/24 by 600,000 mt to 258.3 million mt, the lowest in eight years. The decline was driven mainly by a forecast 2.1 million mt drop in India's stocks to 6.9 million mt, as government estimates implied faster use.

- Date: 2024-04-29 · published 2024-04-29T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/30780-wheat-market-outlook-april-29-2024-sask-wheat
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Tighter global wheat stocks, led by India and China, support wheat prices and reduce the cheap feed-wheat alternative available to feed buyers.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-11-18 | [Wheat Market Outlook – November 18, 2024 \| Sask Wheat](https://feedsoft.ai/events/27454-wheat-market-outlook-november-18-2024-sask-wheat.md) | -0.6% | +0.3% |
| WHEAT | 2019-07-29 | [Wheat Market Outlook – July 29th, 2019 \| Sask Wheat](https://feedsoft.ai/events/58135-wheat-market-outlook-july-29th-2019-sask-wheat.md) | +0.7% | -1.2% |
| WHEAT | 2020-07-27 | [Wheat Market Outlook – July 27th, 2020 \| Sask Wheat](https://feedsoft.ai/events/52148-wheat-market-outlook-july-27th-2020-sask-wheat.md) | +0.4% | -1.6% |
| WHEAT | 2017-03-27 | [Wheat Market Outlook – March 27th, 2017 \| Sask Wheat](https://feedsoft.ai/events/72045-wheat-market-outlook-march-27th-2017-sask-wheat.md) | +2.4% | +3.1% |
| WHEAT | 2018-08-27 | [Wheat Market Outlook – August 27th, 2018 \| Sask Wheat](https://feedsoft.ai/events/63572-wheat-market-outlook-august-27th-2018-sask-wheat.md) | +2.1% | +0.2% |
| KWHEAT | 2024-11-18 | [Wheat Market Outlook – November 18, 2024 \| Sask Wheat](https://feedsoft.ai/events/27454-wheat-market-outlook-november-18-2024-sask-wheat.md) | +2.6% | +3.6% |
| KWHEAT | 2018-08-27 | [Wheat Market Outlook – August 27th, 2018 \| Sask Wheat](https://feedsoft.ai/events/63572-wheat-market-outlook-august-27th-2018-sask-wheat.md) | +0.7% | +1.9% |
| KWHEAT | 2020-11-16 | [Wheat Market Outlook – November 16th, 2020 \| Sask Wheat](https://feedsoft.ai/events/50199-wheat-market-outlook-november-16th-2020-sask-wheat.md) | -0.3% | +4.9% |

## Sources

- saskwheat.ca: https://saskwheat.ca/wheat-market-outlook/wheat-market-outlook-april-29-2024/

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