# Wheat Prices Rally on Lower U.S. Winter Wheat Production Estimate - Northern Ag Network

> USDA raised its 2018-19 US winter wheat production estimate by about 1% to 1.198 billion bushels, with yield at 48.4 bushels per acre. Wheat futures rallied anyway after USDA lowered Russian and European wheat production. Corn and soybean ending stocks also came in below expectations.

- Date: 2018-06-13 · published 2018-06-13T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/64483-wheat-prices-rally-on-lower-u-s-winter-wheat-production-estimate-northern-ag
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Lower Black Sea and EU wheat output tightens the export supply that feed buyers draw on for wheat-based rations, supporting wheat values. US supply increases limit the rally.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-10-06 | [USDA takes axe to wheat production estimate \| The Western Producer](https://feedsoft.ai/events/5092-usda-takes-axe-to-wheat-production-estimate-the-western-producer.md) | -14.4% | -16.5% |
| WHEAT | 2019-11-06 | [Australia: FCStone estimates wheat production at only](https://feedsoft.ai/events/56011-australia-fcstone-estimates-wheat-production-at-only.md) | +3.2% | +7.4% |
| WHEAT | 2018-10-23 | [HRW Wheat Winding Down - Northern Ag Network](https://feedsoft.ai/events/62624-hrw-wheat-winding-down-northern-ag-network.md) | +0.0% | -4.5% |
| WHEAT | 2022-09-30 | [Hard Red Winter Wheat production lowest since 1957 - Oklahoma Farm Report](https://feedsoft.ai/events/39644-hard-red-winter-wheat-production-lowest-since-1957-oklahoma-farm-report.md) | +0.4% | -10.7% |
| WHEAT | 2023-09-12 | [Wheat prices strengthened by lower global production - Farmers Weekly](https://feedsoft.ai/events/34146-wheat-prices-strengthened-by-lower-global-production-farmers-weekly.md) | +0.9% | -1.2% |
| CORN | 2024-05-10 | [USDA Lowers Estimates for Brazil Corn and Soy Production](https://feedsoft.ai/events/30215-usda-lowers-estimates-for-brazil-corn-and-soy-production.md) | +2.4% | +2.7% |
| CORN | 2018-07-13 | [Changes in Wheat Volume in July WASDE - Northern Ag Network](https://feedsoft.ai/events/64004-changes-in-wheat-volume-in-july-wasde-northern-ag-network.md) | +2.2% | +10.2% |
| CORN | 2025-09-12 | [Corn Rallies on Friday Despite Increased Production Estimate](https://feedsoft.ai/events/6855-corn-rallies-on-friday-despite-increased-production-estimate.md) | +5.1% | +3.6% |

## Sources

- northernag.net: https://www.northernag.net/wheat-prices-rally-on-lower-u-s-winter-wheat-production-estimate/

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