# ABARES tell us what we know USDA surprise - StockCo Australia

> ABARES's pre-report warning of crop downgrades had limited market impact, while the USDA October WASDE cut US soybean production by half a million tonnes and lifted soybean prices 2.4%. Global wheat output was raised 5.3 million tonnes, with Australia cut 1 million tonnes.

- Date: 2017-10-19 · published 2017-10-19T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/68405-abares-tell-us-what-we-know-usda-surprise-stockco-australia
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

The USDA soybean cut supports soybean meal values, while higher global wheat output is bearish for feed grain prices.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2025-10-01 | [USDA Grain Stocks Report Surprises Corn and Wheat - RFD](https://feedsoft.ai/events/9845-usda-grain-stocks-report-surprises-corn-and-wheat-rfd.md) | +0.6% | +6.4% |
| WHEAT | 2022-10-25 | [USDA Sees Australian Wheat Crop at 34 Million Tons \| KQLX](https://feedsoft.ai/events/39073-usda-sees-australian-wheat-crop-at-34-million-tons-kqlx.md) | -5.1% | +3.4% |
| WHEAT | 2021-12-07 | [ABARES scales up Australia's 2021-22 wheat export view, FOB prices peak](https://feedsoft.ai/events/43534-abares-scales-up-australia-s-2021-22-wheat-export-view-fob-prices-peak.md) | -6.1% | -2.9% |
| WHEAT | 2023-01-30 | [USDA attache sees Australia 2022/23 wheat crop at 37 million tons](https://feedsoft.ai/events/37735-usda-attache-sees-australia-2022-23-wheat-crop-at-37-million-tons.md) | +3.4% | +1.2% |
| WHEAT | 2020-06-17 | [Demand & supply heading for a mismatch - StockCo Australia](https://feedsoft.ai/events/52592-demand-and-supply-heading-for-a-mismatch-stockco-australia.md) | +1.9% | -3.6% |
| SOY | 2019-09-30 | [Stocks Surprise and Residual Reflections](https://feedsoft.ai/events/57010-stocks-surprise-and-residual-reflections.md) | +3.8% | +4.2% |
| SOY | 2018-01-12 | [U.S. grains: Wheat drops most since August after USDA acreage surprise - AgCanada](https://feedsoft.ai/events/66938-u-s-grains-wheat-drops-most-since-august-after-usda-acreage-surprise-agcanada.md) | +3.9% | +4.5% |
| SOY | 2018-01-01 | [USDA Reports Provide Some Surprises](https://feedsoft.ai/events/66854-usda-reports-provide-some-surprises.md) | +0.7% | +5.1% |

## Sources

- stockco.com.au: https://stockco.com.au/abares-tell-us-what-we-know-usda-surprise/

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