# Wheat prices strengthened by lower global production - Farmers Weekly

> USDA's September WASDE cut 2023/24 wheat production estimates for Australia, Canada, Argentina and the EU. Global wheat output is now projected to fall year-on-year for the first time since 2018-19, to 1.054 billion tonnes.

- Date: 2023-09-12 · published 2023-09-12T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/34146-wheat-prices-strengthened-by-lower-global-production-farmers-weekly
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

Lower exporter crops tighten global wheat supply, providing short-term price support even as ample Russian supply limits gains.

## Read by commodity

- WHEAT: bullish ▲
- BARLEY: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-04-01 | [UK feed wheat price rises after surprise in global market - Farmers Weekly](https://feedsoft.ai/events/47552-uk-feed-wheat-price-rises-after-surprise-in-global-market-farmers-weekly.md) | +0.2% | +4.6% |
| WHEAT | 2019-07-11 | [Global Wheat Stocks Revised Lower, Boosting Prices](https://feedsoft.ai/events/58151-global-wheat-stocks-revised-lower-boosting-prices.md) | +0.4% | -2.7% |
| WHEAT | 2021-08-16 | [Barley prices rise amid lower global production forecast for my 2021/22](https://feedsoft.ai/events/45622-barley-prices-rise-amid-lower-global-production-forecast-for-my-2021-22.md) | +1.1% | +2.8% |
| 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 | 2018-09-19 | [Weather Continues to Affect Global Wheat Production - U.S. Wheat Associates](https://feedsoft.ai/events/62993-weather-continues-to-affect-global-wheat-production-u-s-wheat-associates.md) | +0.7% | +8.5% |
| KWHEAT | 2019-07-11 | [Global Wheat Stocks Revised Lower, Boosting Prices](https://feedsoft.ai/events/58151-global-wheat-stocks-revised-lower-boosting-prices.md) | +0.1% | -5.3% |
| 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 | 2018-09-19 | [Weather Continues to Affect Global Wheat Production - U.S. Wheat Associates](https://feedsoft.ai/events/62993-weather-continues-to-affect-global-wheat-production-u-s-wheat-associates.md) | +1.2% | +2.3% |

## Sources

- fwi.co.uk: https://www.fwi.co.uk/business/markets-and-trends/crop-prices/wheat-prices-strengthened-by-lower-global-production

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