# Wheat stock record, US maize trimmed: IGC - Grain Central

> The International Grains Council's July report projects record world wheat carryover stocks of 288 million tonnes at end-2020/21, despite slightly reduced wheat production forecasts for the EU, Russia and the US. The IGC cut its total world grains production forecast to 2225Mt, down 13Mt from June, mainly on a smaller US corn crop.

- Date: 2020-07-24 · published 2020-07-24T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/52151-wheat-stock-record-us-maize-trimmed-igc-grain-central
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Record wheat stocks are bearish for wheat prices and cap rallies, while the smaller US corn crop tightens coarse grain supply and supports feed grain prices. Global stocks-to-use for all grains falls to a six-year low.

## Read by commodity

- CORN: bullish ▲
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2017-10-12 | [Russia's record wheat crop boosts world wheat ending stock forecast - Grain Central](https://feedsoft.ai/events/68418-russia-s-record-wheat-crop-boosts-world-wheat-ending-stock-forecast-grain.md) | +0.0% | -3.9% |
| WHEAT | 2019-05-12 | [Global wheat production set to hit record 777Mt: USDA - Grain Central](https://feedsoft.ai/events/59058-global-wheat-production-set-to-hit-record-777mt-usda-grain-central.md) | -0.4% | +4.7% |
| WHEAT | 2022-12-05 | [ABARES forecasts record wheat, canola crops - Grain Central](https://feedsoft.ai/events/38213-abares-forecasts-record-wheat-canola-crops-grain-central.md) | -9.5% | -0.8% |
| WHEAT | 2018-04-13 | [Current season wheat stock rises, coarse grains stocks fall: USDA - Grain Central](https://feedsoft.ai/events/65484-current-season-wheat-stock-rises-coarse-grains-stocks-fall-usda-grain-central.md) | +3.3% | +2.7% |
| WHEAT | 2023-03-06 | [ABARES ups estimates for record wheat, canola crops - Grain Central](https://feedsoft.ai/events/36762-abares-ups-estimates-for-record-wheat-canola-crops-grain-central.md) | -2.2% | +4.8% |
| CORN | 2018-05-11 | [Record grain consumption drives stocks down : USDA - Grain Central](https://feedsoft.ai/events/64985-record-grain-consumption-drives-stocks-down-usda-grain-central.md) | -0.1% | -2.8% |
| CORN | 2018-04-13 | [Current season wheat stock rises, coarse grains stocks fall: USDA - Grain Central](https://feedsoft.ai/events/65484-current-season-wheat-stock-rises-coarse-grains-stocks-fall-usda-grain-central.md) | -0.4% | +3.0% |
| CORN | 2019-11-11 | [Wheat crops bigger, corn smaller, mirroring stock outlooks: USDA - Grain Central](https://feedsoft.ai/events/56012-wheat-crops-bigger-corn-smaller-mirroring-stock-outlooks-usda-grain-central.md) | -1.0% | -3.2% |

## Sources

- graincentral.com: https://www.graincentral.com/markets/wheat-stock-record-us-maize-trimmed-igc/

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