# Wheat Market Outlook – September 23, 2024 | Sask Wheat

> The IGC's September report lowered global wheat production by 1.2 million tons to 798 million, led by a 2.6 million ton cut in EU output and a half million ton cut in Canada. Australian output was raised 1.7 million tons, and ending stocks rose to 267 million tons.

- Date: 2024-09-23 · published 2024-09-23T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/5610-wheat-market-outlook-september-23-2024-sask-wheat
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Lower EU and Canadian output is partly offset by larger Australian supply and higher carry-in stocks, leaving the net effect on wheat prices modest.

## Read by commodity

- WHEAT: neutral
- KWHEAT: neutral

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2024-09-23 | 1 | +7.3% | 6.1 | The IGC report cut global production, led by the EU, which supports prices, but higher Australian output and higher ending stocks partly offset it. |
| WHEAT | 2024-09-24 | 5 | +11.7% | 2.8 | IGC lowered world wheat production, led by a cut in EU output, which was supportive though stocks were higher. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2020-11-30 | [Wheat Market Outlook – November 30th, 2020 \| Sask Wheat](https://feedsoft.ai/events/50198-wheat-market-outlook-november-30th-2020-sask-wheat.md) | -0.9% | +8.3% |
| WHEAT | 2024-08-26 | [Wheat Market Outlook – August 26, 2024 \| Sask Wheat](https://feedsoft.ai/events/28815-wheat-market-outlook-august-26-2024-sask-wheat.md) | +0.4% | +3.2% |
| WHEAT | 2018-10-09 | [Wheat Market Outlook – October 9th, 2018 \| Sask Wheat](https://feedsoft.ai/events/62628-wheat-market-outlook-october-9th-2018-sask-wheat.md) | +8.3% | +4.4% |
| WHEAT | 2021-06-28 | [Wheat Market Outlook – June 28th, 2021 \| Sask Wheat](https://feedsoft.ai/events/46621-wheat-market-outlook-june-28th-2021-sask-wheat.md) | -0.2% | -3.7% |
| WHEAT | 2017-04-24 | [Wheat Market Outlook – April 24th, 2017 \| Sask Wheat](https://feedsoft.ai/events/71551-wheat-market-outlook-april-24th-2017-sask-wheat.md) | +2.4% | +1.0% |
| KWHEAT | 2020-11-30 | [Wheat Market Outlook – November 30th, 2020 \| Sask Wheat](https://feedsoft.ai/events/50198-wheat-market-outlook-november-30th-2020-sask-wheat.md) | -3.6% | +2.8% |
| KWHEAT | 2024-08-26 | [Wheat Market Outlook – August 26, 2024 \| Sask Wheat](https://feedsoft.ai/events/28815-wheat-market-outlook-august-26-2024-sask-wheat.md) | +6.3% | +11.0% |
| KWHEAT | 2025-09-16 | [Wheat: Market mixed: SWR with slight gains, HRW weakens](https://feedsoft.ai/events/8336-wheat-market-mixed-swr-with-slight-gains-hrw-weakens.md) | -2.3% | -6.4% |

## Sources

- saskwheat.ca: https://saskwheat.ca/wheat-market-outlook/wheat-market-outlook-september-23-2024/

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