# IGC trims forecast for global wheat crop - Markets - Business Recorder

> The IGC cut its 2021/22 world wheat forecast by 1 million tonnes to 788 million. Drought lowered its US crop estimate to 47.5 million tonnes from 51.1 million and its Canadian estimate to 28.5 million from 32.3 million. EU production was raised to 137.7 million tonnes on better outlooks in France, Hungary and Romania.

- Date: 2021-07-30 · published 2021-07-30T12:00:00.000Z
- Category: weather · region Global · magnitude medium
- Page: https://feedsoft.ai/events/46024-igc-trims-forecast-for-global-wheat-crop-markets-business-recorder
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Losses in North American spring wheat remove exportable supply and support global wheat prices. Higher EU output partly offsets the cut, so the net price effect is upward but limited.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-09-23 | [Chicago wheat rises on global crop concern - Markets - Business Recorder](https://feedsoft.ai/events/5608-chicago-wheat-rises-on-global-crop-concern-markets-business-recorder.md) | +11.3% | +5.5% |
| WHEAT | 2021-09-14 | [Paris wheat and rapeseed rally on Canada crop forecasts - Markets - Business Recorder](https://feedsoft.ai/events/45015-paris-wheat-and-rapeseed-rally-on-canada-crop-forecasts-markets-business.md) | -3.3% | +4.8% |
| WHEAT | 2021-02-16 | [US MIDDAY: Wheat climbs - Markets - Business Recorder](https://feedsoft.ai/events/9256-us-midday-wheat-climbs-markets-business-recorder.md) | +1.3% | +0.2% |
| WHEAT | 2024-03-25 | [Wheat hits 3-week high on French crop worries - Markets - Business Recorder](https://feedsoft.ai/events/31240-wheat-hits-3-week-high-on-french-crop-worries-markets-business-recorder.md) | -0.6% | +1.9% |
| WHEAT | 2020-06-12 | [French wheat crop stable for second week after punishing spring - Markets - Business Recorder](https://feedsoft.ai/events/52548-french-wheat-crop-stable-for-second-week-after-punishing-spring-markets.md) | -1.3% | -4.6% |
| KWHEAT | 2021-02-16 | [US MIDDAY: Wheat climbs - Markets - Business Recorder](https://feedsoft.ai/events/9256-us-midday-wheat-climbs-markets-business-recorder.md) | +4.5% | -1.6% |
| KWHEAT | 2024-03-25 | [Wheat hits 3-week high on French crop worries - Markets - Business Recorder](https://feedsoft.ai/events/31240-wheat-hits-3-week-high-on-french-crop-worries-markets-business-recorder.md) | -2.5% | +1.2% |
| KWHEAT | 2024-04-23 | [Chicago wheat futures extend gains - Markets - Business Recorder](https://feedsoft.ai/events/12141-chicago-wheat-futures-extend-gains-markets-business-recorder.md) | +7.7% | +16.6% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40109980

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