# Global wheat stocks prove slow to move | Farm Weekly | WA

> Global wheat consumers are slowly drawing down stocks built by three years of large harvests, and Australian wheat prices sit near A$275 a tonne for old crop. US futures dipped on sluggish export data despite drought problems in the US Plains.

- Date: 2018-04-23 · published 2018-04-23T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/65545-global-wheat-stocks-prove-slow-to-move-farm-weekly-wa
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Ample global stocks limit upside in wheat prices unless production is cut further. Australian bulk wheat is uncompetitive for export, which keeps local feed grain prices anchored.

## Read by commodity

- WHEAT: neutral
- KWHEAT: neutral

## Sources

- farmweekly.com.au: https://www.farmweekly.com.au/story/5670880/global-wheat-stocks-prove-slow-to-move/

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