# Record grain consumption drives stocks down : USDA - Grain Central

> The May USDA report projects 2018/19 world wheat production falling below consumption for the first time in years, and coarse grain ending stocks dropping 38 million tonnes to 185 million. Coarse grain production is forecast at 1,341 Mt, with consumption at 1,378 Mt.

- Date: 2018-05-11 · published 2018-05-11T12:00:00.000Z
- Category: report · region Global · magnitude high
- Page: https://feedsoft.ai/events/64985-record-grain-consumption-drives-stocks-down-usda-grain-central
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Barley](https://feedsoft.ai/c/BARLEY.md), [Sorghum](https://feedsoft.ai/c/SORGHUM.md), [Oats](https://feedsoft.ai/c/OATS.md)

## Why it matters

Projected stock declines in wheat and coarse grains point to tighter supplies and firmer feed grain prices in the coming season.

## Read by commodity

- CORN: bullish ▲
- OATS: bullish ▲
- WHEAT: bullish ▲
- BARLEY: bullish ▲
- SORGHUM: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| OATS | 2018-05-14 | 1 | +4.9% | 3.7 | The USDA projection that coarse grain ending stocks would fall 38 Mt as consumption exceeds production tightens the outlook for feed grains, which supports oats as a substitute and adds bullish sentiment. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2019-04-09 | [Tighter wheat stocks; reduced Canadian canola exports; cotton consumption down: USDA - Grain Central](https://feedsoft.ai/events/59690-tighter-wheat-stocks-reduced-canadian-canola-exports-cotton-consumption-down.md) | -0.5% | -10.8% |
| 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 | 2021-08-17 | [USDA slashes global wheat production - Grain Central](https://feedsoft.ai/events/45538-usda-slashes-global-wheat-production-grain-central.md) | +0.1% | +3.4% |
| WHEAT | 2017-06-14 | [Winter crop down from record 2016-17, but still set for five-year average - Grain Central](https://feedsoft.ai/events/70447-winter-crop-down-from-record-2016-17-but-still-set-for-five-year-average-grain.md) | +0.6% | +1.3% |
| WHEAT | 2023-05-15 | [USDA Ending Stocks Reveal Record Projections for Corn and Soybeans - ProAg](https://feedsoft.ai/events/35890-usda-ending-stocks-reveal-record-projections-for-corn-and-soybeans-proag.md) | -1.6% | -7.1% |
| CORN | 2020-07-24 | [Wheat stock record, US maize trimmed: IGC - Grain Central](https://feedsoft.ai/events/52151-wheat-stock-record-us-maize-trimmed-igc-grain-central.md) | -1.9% | +1.4% |
| CORN | 2018-04-13 | [Current season wheat stock rises, coarse grains stocks fall: USDA - Grain Central](https://feedsoft.ai/events/65484-current-season-wheat-stock-rises-coarse-grains-stocks-fall-usda-grain-central.md) | -0.4% | +3.0% |
| CORN | 2025-03-31 | [USDA reports mixed grain stocks, with wheat up and corn down](https://feedsoft.ai/events/25651-usda-reports-mixed-grain-stocks-with-wheat-up-and-corn-down.md) | +0.4% | +4.2% |

## Sources

- graincentral.com: https://www.graincentral.com/markets/record-grain-consumption-drives-stocks-down-usda/

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