# World crop outlook breathes life into wheat prices - Grain Central

> The International Grains Council cut its outlook for global grain production and expected consumption to stay high, raising the possibility of the first stock contraction in five years. Its wheat price index rose almost 12 percent in a month to its highest since July 2015, driven by dry weather in Europe and North America. Canadian and US growers shifted acreage toward canola and oilseeds because of wet planting conditions and weak wheat prices.

- Date: 2017-07-03 · published 2017-07-03T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/6179-world-crop-outlook-breathes-life-into-wheat-prices-grain-central
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md)

## Why it matters

Lower global production and possible stock drawdown support world wheat prices and raise import costs for feed buyers. Shifting acreage to oilseeds may also tighten wheat availability.

## Read by commodity

- WHEAT: bullish ▲
- CANMEAL: neutral

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2017-07-03 | 5 | +6.7% | 3.0 | The IGC's cut to its global production outlook and its sharp wheat price index rise reinforced supply-tightness sentiment on the final day of the window. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2017-10-03 | [World crop upgrade fails to dampen global barley/wheat price rise - Grain Central](https://feedsoft.ai/events/10969-world-crop-upgrade-fails-to-dampen-global-barley-wheat-price-rise-grain-central.md) | +4.7% | +0.4% |
| WHEAT | 2020-07-13 | [Global wheat prices soften in June: USDA - Grain Central](https://feedsoft.ai/events/52172-global-wheat-prices-soften-in-june-usda-grain-central.md) | -0.4% | -1.3% |
| WHEAT | 2020-04-14 | [COVID-19 lifts prices despite big wheat stocks: USDA - Grain Central](https://feedsoft.ai/events/53684-covid-19-lifts-prices-despite-big-wheat-stocks-usda-grain-central.md) | -2.1% | -2.2% |
| WHEAT | 2021-12-13 | [Coceral sees smaller EU wheat crop in 2022 \| World Grain](https://feedsoft.ai/events/43539-coceral-sees-smaller-eu-wheat-crop-in-2022-world-grain.md) | -6.0% | +1.3% |
| WHEAT | 2018-06-20 | [Feed grain price update and winter crop outlook \| Meat & Livestock Australia](https://feedsoft.ai/events/64491-feed-grain-price-update-and-winter-crop-outlook-meat-and-livestock-australia.md) | -0.5% | -2.8% |

## Sources

- graincentral.com: https://www.graincentral.com/markets/world-crop-outlook-breathes-life-into-wheat-prices/

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