# Markets respond to trade truce | NSW

> ABARES cut its 2018/19 Australian wheat forecast to 16.9 million tonnes, the smallest crop in a decade and below its September estimate. Markets also rose on the US-China trade truce, with US wheat futures rallying before closing below the day's highs.

- Date: 2018-12-06 · published 2018-12-06T12:00:00.000Z
- Category: report · region Australia · magnitude medium
- Page: https://feedsoft.ai/events/61617-markets-respond-to-trade-truce-nsw
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

A sharply smaller Australian crop removes export supply and supports world wheat prices, and the trade truce adds to the upward pressure.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2017-05-18 | [Good news on wheat markets is hrd to find.](https://feedsoft.ai/events/71033-good-news-on-wheat-markets-is-hrd-to-find.md) | +3.0% | +1.9% |
| WHEAT | 2021-01-26 | [Ag Markets Continue to Rebound Higher \| Feed & Grain](https://feedsoft.ai/events/49075-ag-markets-continue-to-rebound-higher-feed-and-grain.md) | -9.4% | -0.2% |
| WHEAT | 2020-01-15 | [Markets react as USDA reduces production estimates \| The Rural \| Wagga Wagga, NSW](https://feedsoft.ai/events/55031-markets-react-as-usda-reduces-production-estimates-the-rural-wagga-wagga-nsw.md) | +0.0% | -5.4% |
| WHEAT | 2025-07-01 | [Trade war and grain import resilience: evidence from China’s response to U.S. Tariffs](https://feedsoft.ai/events/14656-trade-war-and-grain-import-resilience-evidence-from-china-s-response-to-u-s.md) | -2.8% | -4.3% |
| WHEAT | 2025-05-29 | [Markets react to USDA wheat downgrade and moisture concerns on the Prairies - RealAgriculture](https://feedsoft.ai/events/24748-markets-react-to-usda-wheat-downgrade-and-moisture-concerns-on-the-prairies.md) | +2.7% | -0.5% |
| SOY | 2022-06-19 | [Grain and Oilseeds: world markets and trade](https://feedsoft.ai/events/41073-grain-and-oilseeds-world-markets-and-trade.md) | -4.2% | -13.2% |
| SOY | 2019-10-10 | [Mixed reports churn markets](https://feedsoft.ai/events/8768-mixed-reports-churn-markets.md) | +0.5% | -0.9% |
| SOY | 2021-08-12 | [Grain Journal \| USDA Oilseeds: World Markets and Trade (Aug. 12):…](https://feedsoft.ai/events/45662-grain-journal-usda-oilseeds-world-markets-and-trade-aug-12.md) | -3.4% | -10.4% |

## Sources

- theland.com.au: https://www.theland.com.au/story/5793713/trade-truce-bumps-up-wheat/

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