# A Shock to the Wheat Market - Northern Ag Network

> USDA released its monthly WASDE and crop production reports on July 12, 2017. Winter wheat production was raised to 1.279 billion bushels, spring wheat came in at 423 million bushels, and durum was pegged at 57 million bushels, below pre-report estimates. Corn 2017-18 production was raised to 14.255 billion bushels and soybean production to 4.26 billion bushels.

- Date: 2017-07-13 · published 2017-07-13T12:00:00.000Z
- Category: report · region US · magnitude high
- Page: https://feedsoft.ai/events/69888-a-shock-to-the-wheat-market-northern-ag-network
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Larger-than-expected wheat, corn and soybean supplies and bearish U.S. and world ending stocks for corn and wheat point to lower feed grain and wheat prices, with soybeans mixed.

## Read by commodity

- SOY: neutral
- CORN: bearish ▼
- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 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) | +3.7% | +9.0% |
| WHEAT | 2018-01-18 | [More bad news for the wheat market](https://feedsoft.ai/events/67024-more-bad-news-for-the-wheat-market.md) | +2.9% | +5.9% |
| WHEAT | 2017-09-21 | [Russian wheat output shocks markets](https://feedsoft.ai/events/69003-russian-wheat-output-shocks-markets.md) | -6.6% | +3.1% |
| WHEAT | 2020-08-26 | [Wheat acreage decline - AG INFORMATION NETWORK OF THE WEST](https://feedsoft.ai/events/51656-wheat-acreage-decline-ag-information-network-of-the-west.md) | -1.7% | +7.4% |
| WHEAT | 2017-09-29 | [A Look at Northern States' Spring Wheat Estimates](https://feedsoft.ai/events/8738-a-look-at-northern-states-spring-wheat-estimates.md) | +5.6% | +10.7% |
| KWHEAT | 2018-01-18 | [More bad news for the wheat market](https://feedsoft.ai/events/67024-more-bad-news-for-the-wheat-market.md) | +1.4% | +10.0% |
| KWHEAT | 2020-08-26 | [Wheat acreage decline - AG INFORMATION NETWORK OF THE WEST](https://feedsoft.ai/events/51656-wheat-acreage-decline-ag-information-network-of-the-west.md) | +8.8% | +9.0% |
| KWHEAT | 2017-09-29 | [A Look at Northern States' Spring Wheat Estimates](https://feedsoft.ai/events/8738-a-look-at-northern-states-spring-wheat-estimates.md) | -4.1% | -5.5% |

## Sources

- northernag.net: https://www.northernag.net/a-shock-to-the-wheat-market/

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