# Grain markets hit turbulence, after key report ups wheat supply hopes, but slashes corn - Grain Price News

> The August WASDE raised world 2022/23 wheat production by nearly 8 million tonnes to 779.6 million, led by a record 8 million tonne Russian crop. US corn and world stocks came in below expectations, and soybean production was lifted to an all-time high.

- Date: 2022-08-12 · published 2022-08-12T12:00:00.000Z
- Category: report · region Global · magnitude high
- Page: https://feedsoft.ai/events/39957-grain-markets-hit-turbulence-after-key-report-ups-wheat-supply-hopes-but
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

A larger global wheat crop pressures wheat prices, while tighter corn stocks provide support and a record soybean crop weighs on soy complex values.

## Read by commodity

- SOY: bearish ▼
- CORN: bullish ▲
- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-11-09 | [Wheat prices hold near two-month lows, after US lifts world supply hopes - Grain Price News](https://feedsoft.ai/events/38647-wheat-prices-hold-near-two-month-lows-after-us-lifts-world-supply-hopes-grain.md) | +1.1% | -9.0% |
| WHEAT | 2024-07-12 | [July supply, demand report a boost to corn and hit to wheat - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/29203-july-supply-demand-report-a-boost-to-corn-and-hit-to-wheat-agweek-1-source-for.md) | -3.9% | -2.9% |
| WHEAT | 2023-07-13 | [Key data in USDA's July 12 Wasde report, and difference from market expectations - Grain Price News](https://feedsoft.ai/events/34984-key-data-in-usda-s-july-12-wasde-report-and-difference-from-market-expectations.md) | +3.7% | +3.6% |
| WHEAT | 2022-11-09 | [Key data in USDA's November 9 Wasde report, and difference from market expectations - Grain Price News](https://feedsoft.ai/events/38643-key-data-in-usda-s-november-9-wasde-report-and-difference-from-market.md) | +1.1% | -9.0% |
| WHEAT | 2023-10-12 | [Key data in USDA's October 12 Wasde report, and difference from market expectations - Grain Price News](https://feedsoft.ai/events/33587-key-data-in-usda-s-october-12-wasde-report-and-difference-from-market.md) | +0.8% | -0.8% |
| KWHEAT | 2017-07-16 | [Supply report hurts markets - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/69893-supply-report-hurts-markets-agweek-1-source-for-agriculture-news-farming-markets.md) | -0.6% | -11.6% |
| KWHEAT | 2017-07-12 | [Corn, winter wheat drag grains lower, as US supply](https://feedsoft.ai/events/69892-corn-winter-wheat-drag-grains-lower-as-us-supply.md) | -7.1% | -14.9% |
| KWHEAT | 2018-03-17 | [US Wheat - 3/12/18 \| Grain Market Reports \| lancasterfarming.com](https://feedsoft.ai/events/66055-us-wheat-3-12-18-grain-market-reports-lancasterfarming-com.md) | -4.1% | -4.3% |

## Sources

- grainpricenews.com: https://grainpricenews.com/2022/08/12/grain-markets-hit-turbulence-after-key-report-ups-wheat-supply-hopes-but-slashes-corn/

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