# Adjusting to USDA Estimates in a Record-Setting Marketing Year

> USDA has cut its 2021/22 global wheat production estimate by 17 million tonnes since the initial WASDE, led by Canada, Russia and the US. Quality problems after wet harvests in the EU and Australia and Russia's export tax and planned export cap have tightened supply.

- Date: 2021-12-15 · published 2021-12-15T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/43646-adjusting-to-usda-estimates-in-a-record-setting-marketing-year
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Ocean Grain Freight](https://feedsoft.ai/c/OCEANFRT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Lower global production and stocks among top exporters keep wheat prices near multi-year highs, raising costs for feed formulators who substitute wheat for corn.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲
- OCEANFRT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| KWHEAT | 2024-05-28 | [Initial 2024/25 Estimates Add To Bullish Market Sentiment](https://feedsoft.ai/events/30291-initial-2024-25-estimates-add-to-bullish-market-sentiment.md) | -2.9% | -20.1% |
| KWHEAT | 2020-01-15 | [Markets react as USDA reduces production estimates \| The Rural \| Wagga Wagga, NSW](https://feedsoft.ai/events/55031-markets-react-as-usda-reduces-production-estimates-the-rural-wagga-wagga-nsw.md) | -0.9% | -5.2% |
| KWHEAT | 2021-05-27 | [World Wheat Market Factors to Watch in the New U.S. Marketing Year](https://feedsoft.ai/events/47134-world-wheat-market-factors-to-watch-in-the-new-u-s-marketing-year.md) | +4.3% | +1.2% |
| KWHEAT | 2017-03-06 | [USDA releases new crop estimates for major crops - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/71835-usda-releases-new-crop-estimates-for-major-crops-agweek-1-source-for.md) | -3.6% | -9.0% |
| KWHEAT | 2021-03-08 | [WHEAT SCOOP: First look into 2021/22 wheat marketing year](https://feedsoft.ai/events/48161-wheat-scoop-first-look-into-2021-22-wheat-marketing-year.md) | -3.6% | -8.8% |
| WHEAT | 2024-05-28 | [Initial 2024/25 Estimates Add To Bullish Market Sentiment](https://feedsoft.ai/events/30291-initial-2024-25-estimates-add-to-bullish-market-sentiment.md) | -4.9% | -11.2% |
| WHEAT | 2020-07-01 | [Corn extends rally after deep cut to US planting estimate - Markets - Business Recorder](https://feedsoft.ai/events/52153-corn-extends-rally-after-deep-cut-to-us-planting-estimate-markets-business.md) | -6.3% | -5.0% |
| WHEAT | 2021-07-13 | [Black Sea Region: USDA estimates gradually nearing market ones - UkrAgroConsult](https://feedsoft.ai/events/45910-black-sea-region-usda-estimates-gradually-nearing-market-ones-ukragroconsult.md) | +1.3% | -0.4% |

## Sources

- newuswheat.mysites.io: https://newuswheat.mysites.io/wheatletter/adjusting-to-usda-estimates-in-a-record-setting-year/

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