# Wheat prices fall despite a downgrade in the USDA’s global production forecast

> USDA's December balance sheet lowered 2022/23 world wheat production by 2.1 million tons to 780.6 million tons, mainly on Argentina and Canada, while Australia's crop was raised to a record. Global consumption was cut by 1.6 million tons and exports were raised by 2.2 million tons, yet wheat prices still fell amid broader commodity pessimism.

- Date: 2022-12-12 · published 2022-12-12T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/5522-wheat-prices-fall-despite-a-downgrade-in-the-usda-s-global-production-forecast
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Barley](https://feedsoft.ai/c/BARLEY.md)

## Why it matters

Ample Australian and Black Sea supplies offset the downgrade in world output, keeping wheat prices under pressure despite tighter production numbers.

## Read by commodity

- WHEAT: bearish ▼
- BARLEY: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-08-13 | [Despite lower production and inventory forecasts in the USDA report, wheat exchange prices fell](https://feedsoft.ai/events/28812-despite-lower-production-and-inventory-forecasts-in-the-usda-report-wheat.md) | -6.7% | -2.9% |
| WHEAT | 2025-12-11 | [USDA sharply raises global barley production forecast, putting pressure on prices](https://feedsoft.ai/events/21574-usda-sharply-raises-global-barley-production-forecast-putting-pressure-on-prices.md) | -0.3% | +0.8% |
| WHEAT | 2021-03-18 | [The higher forecast production in the new season lowers the price of wheat old crop](https://feedsoft.ai/events/48191-the-higher-forecast-production-in-the-new-season-lowers-the-price-of-wheat-old.md) | +0.9% | -3.3% |
| WHEAT | 2025-09-30 | [Wheat Falling as USDA Raises Production](https://feedsoft.ai/events/22925-wheat-falling-as-usda-raises-production.md) | +0.4% | +5.9% |
| 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% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/wheat-prices-fall-despite-a-downgrade-in-the-usdas-global-production-forecast/

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