# Wheat slides on record global stocks estimate - Markets - Business Recorder

> Chicago wheat futures slid after USDA estimated record global wheat stocks of 316.1 million tonnes in its June report. Corn rose on higher ethanol demand than expected, and soybeans were near unchanged as export expectations were lowered.

- Date: 2020-06-11 · published 2020-06-11T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/52557-wheat-slides-on-record-global-stocks-estimate-markets-business-recorder
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Record global wheat supplies are bearish for wheat as a feed ingredient, while the ethanol-driven corn gain shows a modest supportive effect for corn prices.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-03-11 | [FranceAgriMer lifts soft wheat ending stocks estimate - Markets - Business Recorder](https://feedsoft.ai/events/48087-franceagrimer-lifts-soft-wheat-ending-stocks-estimate-markets-business-recorder.md) | -0.4% | -0.1% |
| WHEAT | 2023-10-04 | [Chicago wheat down - Markets - Business Recorder](https://feedsoft.ai/events/7138-chicago-wheat-down-markets-business-recorder.md) | +4.6% | +4.7% |
| WHEAT | 2021-05-12 | [EU wheat eases, rapeseed hits new high - Markets - Business Recorder](https://feedsoft.ai/events/11413-eu-wheat-eases-rapeseed-hits-new-high-markets-business-recorder.md) | -1.5% | -4.7% |
| WHEAT | 2022-04-17 | [French soft wheat crop rating stable - Markets - Business Recorder](https://feedsoft.ai/events/41779-french-soft-wheat-crop-rating-stable-markets-business-recorder.md) | -0.7% | +7.2% |
| WHEAT | 2021-09-07 | [Australia lifts wheat forecast - Markets - Business Recorder](https://feedsoft.ai/events/45030-australia-lifts-wheat-forecast-markets-business-recorder.md) | +1.8% | +5.2% |
| CORN | 2026-07-11 | [CBoT wheat climbs on Ukraine war risks, bullish USDA global stocks view - Markets - Business Recorder](https://feedsoft.ai/events/7278-cbot-wheat-climbs-on-ukraine-war-risks-bullish-usda-global-stocks-view-markets.md) | +1.1% | -0.6% |
| CORN | 2021-06-24 | [EU trims 2021/22 wheat harvest and stocks forecasts - Markets - Business Recorder](https://feedsoft.ai/events/46520-eu-trims-2021-22-wheat-harvest-and-stocks-forecasts-markets-business-recorder.md) | +4.6% | -5.8% |
| CORN | 2024-05-25 | [French wheat rating slips, maize sowing slows as rain returns - Markets - Business Recorder](https://feedsoft.ai/events/30177-french-wheat-rating-slips-maize-sowing-slows-as-rain-returns-markets-business.md) | +0.2% | -1.0% |

## Sources

- brecorder.com: https://www.brecorder.com/news/1003514

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