# USDA's estimates baffle the trade - Agweek | #1 source for agriculture news, farming, markets

> The October WASDE found more US wheat and more world wheat, with US carryover at 1.043 billion bushels versus 1.015 billion expected. World stocks were estimated at 287.8 million tonnes, above the pre-report 285.17 million, and Australian weather shows limited rain for the wheat belt.

- Date: 2019-10-13 · published 2019-10-13T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/56501-usda-s-estimates-baffle-the-trade-agweek-1-source-for-agriculture-news-farming
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Bigger-than-expected stocks point to ample wheat supplies and softer prices, while Australian dryness could limit upside losses by threatening yield. Feed buyers may see wheat stay competitively priced as a feed grain.

## Read by commodity

- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2020-06-07 | [Have the markets found a bottom? - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/9493-have-the-markets-found-a-bottom-agweek-1-source-for-agriculture-news-farming.md) | -0.3% | -6.4% |
| WHEAT | 2017-03-19 | [Markets preparing for spring - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/10725-markets-preparing-for-spring-agweek-1-source-for-agriculture-news-farming.md) | -2.8% | -0.8% |
| WHEAT | 2017-08-26 | [New contract lows - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/69471-new-contract-lows-agweek-1-source-for-agriculture-news-farming-markets.md) | +3.6% | +7.1% |
| WHEAT | 2020-05-17 | [WASDE not as bad as expected, for now - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/53062-wasde-not-as-bad-as-expected-for-now-agweek-1-source-for-agriculture-news.md) | +0.6% | +1.2% |
| WHEAT | 2017-07-16 | [Supply report hurts markets - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/69893-supply-report-hurts-markets-agweek-1-source-for-agriculture-news-farming-markets.md) | -1.0% | -1.4% |
| KWHEAT | 2017-03-19 | [Markets preparing for spring - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/10725-markets-preparing-for-spring-agweek-1-source-for-agriculture-news-farming.md) | -5.6% | -8.2% |
| KWHEAT | 2017-08-26 | [New contract lows - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/69471-new-contract-lows-agweek-1-source-for-agriculture-news-farming-markets.md) | +2.0% | +12.2% |
| KWHEAT | 2020-05-17 | [WASDE not as bad as expected, for now - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/53062-wasde-not-as-bad-as-expected-for-now-agweek-1-source-for-agriculture-news.md) | -1.7% | -1.4% |

## Sources

- agweek.com: https://www.agweek.com/opinion/usdas-estimates-baffle-the-trade

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