# The Commodities Feed: USDA pushes up wheat supply estimates | articles | ING THINK

> The June WASDE was soft for wheat as higher supply estimates for Russia and India lifted global inventory projections. The same note reports ICE Brent trading down about 1% on demand concerns and talk of a possible US-Iran nuclear deal. Analysts also noted aluminium supply constraints in China.

- Date: 2023-06-12 · published 2023-06-12T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/35446-the-commodities-feed-usda-pushes-up-wheat-supply-estimates-articles-ing-think
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md)

## Why it matters

Higher Russian and Indian wheat supplies add bearish pressure to world wheat prices, which feeds into imported grain costs. Softer crude prices lower the energy cost backdrop for feed transport.

## Read by commodity

- BRENT: bearish ▼
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-07-15 | [WASDE update: Better supply prospects for wheat and corn \| articles \| ING THINK](https://feedsoft.ai/events/29205-wasde-update-better-supply-prospects-for-wheat-and-corn-articles-ing-think.md) | -3.2% | -2.3% |
| WHEAT | 2021-12-10 | [Wheat tightness to ease \| articles \| ING THINK](https://feedsoft.ai/events/43541-wheat-tightness-to-ease-articles-ing-think.md) | -5.9% | -2.6% |
| WHEAT | 2026-01-12 | [US corn and wheat supplies rise in latest WASDE \| Feed & Grain](https://feedsoft.ai/events/12589-us-corn-and-wheat-supplies-rise-in-latest-wasde-feed-and-grain.md) | +0.2% | +2.0% |
| WHEAT | 2021-09-18 | [USDA increases wheat stock estimates \| Farm Online \| ACT](https://feedsoft.ai/events/6379-usda-increases-wheat-stock-estimates-farm-online-act.md) | -3.6% | +3.9% |
| WHEAT | 2018-09-12 | [USDA Pushes Corn, Soybean Yield Estimates Higher](https://feedsoft.ai/events/62988-usda-pushes-corn-soybean-yield-estimates-higher.md) | -6.9% | -6.6% |
| BRENT | 2024-05-02 | [The Commodities Feed: What goes up, must come down \| articles \| ING THINK](https://feedsoft.ai/events/7234-the-commodities-feed-what-goes-up-must-come-down-articles-ing-think.md) | -0.6% | -2.2% |
| BRENT | 2023-10-05 | [Oil takes a hit \| articles \| ING THINK](https://feedsoft.ai/events/7362-oil-takes-a-hit-articles-ing-think.md) | -1.3% | -2.3% |
| BRENT | 2019-01-02 | [Energy commodity prices fell significantly in the last quarter of 2018 -
		U.S. Energy Information Administration (EIA)](https://feedsoft.ai/events/61271-energy-commodity-prices-fell-significantly-in-the-last-quarter-of-2018-u-s.md) | +10.8% | +17.2% |

## Sources

- think.ing.com: https://think.ing.com/articles/the-commodities-feed-the-usda-pushes-up-wheat-supply-estimates/

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