# Wheat harvests in Europe keep global food costs under control | The National

> Bloomberg reports that strong European wheat harvests are keeping global food costs under control, with prices down to less than half of last year's record highs. The USDA has forecast record global wheat output for 2023-24 on the back of the European crop. Analysts say the outlook depends on June weather because global reserves remain tight.

- Date: 2023-05-28 · published 2023-05-28T12:00:00.000Z
- Category: weather · region Global · magnitude medium
- Page: https://feedsoft.ai/events/35922-wheat-harvests-in-europe-keep-global-food-costs-under-control-the-national
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Large European supply and lower wheat prices reduce feed and food input costs for buyers, but tight reserves leave the market exposed to any weather shock. A poor June could reverse the current downward trend.

## Read by commodity

- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-05-17 | [Forecasts of a good wheat harvest in the US and the EU continue to lower stock prices](https://feedsoft.ai/events/10908-forecasts-of-a-good-wheat-harvest-in-the-us-and-the-eu-continue-to-lower-stock.md) | +19.4% | +8.4% |
| WHEAT | 2021-06-04 | [Weather boost keeps EU, UK on course for bigger wheat harvest - CTRM Center](https://feedsoft.ai/events/46521-weather-boost-keeps-eu-uk-on-course-for-bigger-wheat-harvest-ctrm-center.md) | +1.6% | -1.5% |
| WHEAT | 2025-04-29 | [Wheat prices are under pressure from improved weather conditions for the new crop](https://feedsoft.ai/events/25156-wheat-prices-are-under-pressure-from-improved-weather-conditions-for-the-new.md) | +2.1% | -2.8% |
| WHEAT | 2025-04-28 | [Global wheat market: Wheat prices fall as weather improves in the northern hemisphere](https://feedsoft.ai/events/25164-global-wheat-market-wheat-prices-fall-as-weather-improves-in-the-northern.md) | -0.9% | -4.3% |
| WHEAT | 2026-03-08 | [Early wheat harvest boosts supply outlook - Economy News \| The Financial Express](https://feedsoft.ai/events/20133-early-wheat-harvest-boosts-supply-outlook-economy-news-the-financial-express.md) | +0.6% | -2.0% |

## Sources

- thenationalnews.com: https://www.thenationalnews.com/business/economy/2023/05/28/ample-wheat-harvests-in-europe-keep-global-food-costs-under-control/

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