# USDA sees 26pc drop in Australia's new-crop wheat - Grain Central

> USDA's May WASDE forecasts 2023-24 global wheat output at 789.8 million tonnes, with Australia down 26% on lower yields to 29 million tonnes. Australian 2023-24 exports are projected down 8 million tonnes to 24.5 million.

- Date: 2023-05-15 · published 2023-05-15T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/35906-usda-sees-26pc-drop-in-australia-s-new-crop-wheat-grain-central
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

A sharp fall in Australian exports removes a major source of Asian wheat supply, supporting wheat prices and feed-grain substitution demand.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2018-08-13 | [Australian wheat at unexpectedly high 22Mt: USDA - Grain Central](https://feedsoft.ai/events/63499-australian-wheat-at-unexpectedly-high-22mt-usda-grain-central.md) | -1.8% | +3.1% |
| WHEAT | 2017-04-24 | [Australian 2017 wheat crop forecast to reach 24 million tonnes: USDA report - Grain Central](https://feedsoft.ai/events/71469-australian-2017-wheat-crop-forecast-to-reach-24-million-tonnes-usda-report.md) | +2.4% | +1.0% |
| WHEAT | 2020-07-13 | [Global wheat prices soften in June: USDA - Grain Central](https://feedsoft.ai/events/52172-global-wheat-prices-soften-in-june-usda-grain-central.md) | -0.4% | -1.3% |
| 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 | 2026-04-29 | [Australia’s wheat production forecast to drop \| World Grain](https://feedsoft.ai/events/19682-australia-s-wheat-production-forecast-to-drop-world-grain.md) | -3.1% | -0.4% |
| KWHEAT | 2025-05-13 | [USDA forecasts Australian new-crop wheat at 31Mt - Grain Central](https://feedsoft.ai/events/24628-usda-forecasts-australian-new-crop-wheat-at-31mt-grain-central.md) | +4.9% | +5.8% |
| KWHEAT | 2020-07-13 | [Global wheat prices soften in June: USDA - Grain Central](https://feedsoft.ai/events/52172-global-wheat-prices-soften-in-june-usda-grain-central.md) | +0.3% | -7.1% |
| KWHEAT | 2018-02-23 | [USDA sees mixed crop forecasts in 2018 \| World-grain.com \| February 23, 2018 15:54 \| World Grain](https://feedsoft.ai/events/66354-usda-sees-mixed-crop-forecasts-in-2018-world-grain-com-february-23-2018-15-54.md) | +12.8% | +0.1% |

## Sources

- graincentral.com: https://www.graincentral.com/news/usda-sees-26pc-drop-in-australias-new-crop-wheat/

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