# W19: Wheat Update

> The FAO expects global wheat output in 2023/24 at about 785 million tonnes, the second-highest on record but below 2022/23 because of lower crops in Australia and Russia. The USDA's first forecast puts Russia's wheat harvest at 81.5 million tonnes, while Russian export potential rises to 45.5 million tonnes. The article also cites a rebound in EU soft wheat forecasts and drought damage in Spain and Portugal.

- Date: 2023-05-19 · published 2023-05-19T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/35917-w19-wheat-update
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

A smaller Russian and Australian crop is supportive for prices, but a larger EU crop and higher Russian exports offset that effect. The net result is a mixed outlook for wheat, with the balance depending on Black Sea and Australian weather.

## Read by commodity

- WHEAT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2025-09-05 | [W35 2025: Wheat Weekly Update](https://feedsoft.ai/events/22805-w35-2025-wheat-weekly-update.md) | -1.0% | -1.4% |
| WHEAT | 2018-09-12 | [USDA Reports Update](https://feedsoft.ai/events/62875-usda-reports-update.md) | -6.9% | -6.6% |
| WHEAT | 2024-10-16 | [October 2024 WASDE Update](https://feedsoft.ai/events/27805-october-2024-wasde-update.md) | -1.1% | -1.6% |
| WHEAT | 2020-02-28 | [Farming News - Wheat & OSR market update - coronavirus & weather dominate](https://feedsoft.ai/events/10639-farming-news-wheat-and-osr-market-update-coronavirus-and-weather-dominate.md) | +0.0% | -4.4% |
| WHEAT | 2018-05-24 | [Change in USDA Wheat Stocks Estimates](https://feedsoft.ai/events/64973-change-in-usda-wheat-stocks-estimates.md) | -0.8% | -2.2% |

## Sources

- tridge.com: https://www.tridge.com/weekly-product-updates/w19-wheat-update

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