# Wait for rain puts dampener on higher prices forecast | Countryman

> USDA's first detailed 2018-19 forecast projects global wheat stocks, excluding China, falling 18 million tonnes to 126 million, the smallest since 2012-13. WA wheat prices rallied above $300 a tonne on dry conditions in Australia, America and Russia.

- Date: 2018-05-24 · published 2018-05-24T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/64977-wait-for-rain-puts-dampener-on-higher-prices-forecast-countryman
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

A projected first stock decline in six years signals tighter supply, supporting wheat prices despite analysts doubting that prices will hold through harvest.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2018-10-10 | [Brazil corn production forecast higher \| 2018-10-10  \| World Grain](https://feedsoft.ai/events/62372-brazil-corn-production-forecast-higher-2018-10-10-world-grain.md) | +8.2% | +4.5% |
| WHEAT | 2026-03-31 | [CRMAgri - Latest - USDA Highlights: Wheat prices gain after US sowings forecast at lowest on record](https://feedsoft.ai/events/20204-crmagri-latest-usda-highlights-wheat-prices-gain-after-us-sowings-forecast-at.md) | -0.7% | +1.7% |
| WHEAT | 2021-05-05 | [Prices higher, corn continues tight: IGC - Grain Central](https://feedsoft.ai/events/47118-prices-higher-corn-continues-tight-igc-grain-central.md) | +5.2% | -1.0% |
| WHEAT | 2026-07-10 | [July WASDE data proved helpful for grain prices](https://feedsoft.ai/events/10788-july-wasde-data-proved-helpful-for-grain-prices.md) | +0.9% | +0.6% |
| WHEAT | 2022-09-30 | [UPDATE 1-U.S. Wheat Harvest Falls Below Forecasts; Prices Rally](https://feedsoft.ai/events/39630-update-1-u-s-wheat-harvest-falls-below-forecasts-prices-rally.md) | +0.4% | -10.7% |
| KWHEAT | 2026-03-31 | [CRMAgri - Latest - USDA Highlights: Wheat prices gain after US sowings forecast at lowest on record](https://feedsoft.ai/events/20204-crmagri-latest-usda-highlights-wheat-prices-gain-after-us-sowings-forecast-at.md) | -3.0% | +11.3% |
| KWHEAT | 2026-07-10 | [July WASDE data proved helpful for grain prices](https://feedsoft.ai/events/10788-july-wasde-data-proved-helpful-for-grain-prices.md) | +11.6% | +9.0% |
| KWHEAT | 2022-09-30 | [UPDATE 1-U.S. Wheat Harvest Falls Below Forecasts; Prices Rally](https://feedsoft.ai/events/39630-update-1-u-s-wheat-harvest-falls-below-forecasts-prices-rally.md) | -0.2% | -3.6% |

## Sources

- countryman.com.au: https://www.countryman.com.au/countryman/grain/wait-for-rain-puts-dampener-on-higher-prices-forecast-ng-b88840646z

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