# Why The Global Role For U.S. Wheat Is Changing

> U.S. Soft Red Winter wheat production hit near-record lows in 2019 after several years of falling planted and harvested acreage, driven by poor weather across Illinois, Indiana, Ohio and Michigan. USDA data put the SRW stocks-to-use ratio at 38% for 2019/20, a four-year low, while HRW stood at 58%.

- Date: 2020-02-01 · published 2020-02-01T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/55117-why-the-global-role-for-u-s-wheat-is-changing
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Tight SRW supply relative to demand supports Chicago wheat prices and widens the premium over HRW, while a weaker export competitiveness outlook for U.S. wheat could limit export demand.

## Read by commodity

- WTI: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2017-09-21 | [Changing quality mix is affecting crude oil price differentials and refining decisions -
		U.S. Energy Information Administration (EIA)](https://feedsoft.ai/events/69127-changing-quality-mix-is-affecting-crude-oil-price-differentials-and-refining.md) | +3.6% | +3.4% |
| WTI | 2022-11-03 | [EIA: What's Behind the Rapid Increases in Diesel Prices? - Fuels Market News](https://feedsoft.ai/events/7919-eia-what-s-behind-the-rapid-increases-in-diesel-prices-fuels-market-news.md) | -4.7% | -9.9% |
| WTI | 2020-09-30 | [U.S. crude, distillate stocks down in most recent week: EIA \| 104.5 & 96.1 The Point](https://feedsoft.ai/events/51291-u-s-crude-distillate-stocks-down-in-most-recent-week-eia-104-5-and-96-1-the.md) | +3.7% | +0.8% |
| WTI | 2020-01-07 | [Crude oil prices were generally lower in 2019 than in 2018 -
		U.S. Energy Information Administration (EIA)](https://feedsoft.ai/events/55330-crude-oil-prices-were-generally-lower-in-2019-than-in-2018-u-s-energy.md) | -8.1% | -21.6% |
| WTI | 2019-02-01 | [EIA forecasts world crude oil prices to rise gradually, averaging $65 per barrel in 2020](https://feedsoft.ai/events/61262-eia-forecasts-world-crude-oil-prices-to-rise-gradually-averaging-65-per-barrel.md) | -2.1% | +6.3% |

## Sources

- cmegroup.com: https://www.cmegroup.com/openmarkets/commodities/2020/15911-why-the-global-role-for-u-s-wheat-is-changing.html

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