# Supply report hurts markets - Agweek | #1 source for agriculture news, farming, markets

> Wheat futures traded sharply lower after the July 11 WASDE showed higher-than-anticipated production, with Minneapolis falling to $7.46. Winter wheat was raised to 1.279 billion bushels and spring wheat to 423 million, though 2017-18 ending wheat stocks were trimmed to 122 million bushels from 235 million.

- Date: 2017-07-16 · published 2017-07-16T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/69893-supply-report-hurts-markets-agweek-1-source-for-agriculture-news-farming-markets
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Higher production trims ending stocks and pressures wheat prices, although the stocks figure still implies a comfortable supply.

## Read by commodity

- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2017-12-17 | [Reports confirm large supplies - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/8429-reports-confirm-large-supplies-agweek-1-source-for-agriculture-news-farming.md) | +0.3% | +0.8% |
| WHEAT | 2017-03-19 | [Markets preparing for spring - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/10725-markets-preparing-for-spring-agweek-1-source-for-agriculture-news-farming.md) | -2.8% | -0.8% |
| WHEAT | 2017-10-15 | [WASDE Report surprises soybean market - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/68415-wasde-report-surprises-soybean-market-agweek-1-source-for-agriculture-news.md) | -0.4% | -3.9% |
| WHEAT | 2024-07-12 | [July supply, demand report a boost to corn and hit to wheat - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/29203-july-supply-demand-report-a-boost-to-corn-and-hit-to-wheat-agweek-1-source-for.md) | -3.9% | -2.9% |
| WHEAT | 2017-08-26 | [New contract lows - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/69471-new-contract-lows-agweek-1-source-for-agriculture-news-farming-markets.md) | +3.6% | +7.1% |
| KWHEAT | 2017-03-19 | [Markets preparing for spring - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/10725-markets-preparing-for-spring-agweek-1-source-for-agriculture-news-farming.md) | -5.6% | -8.2% |
| KWHEAT | 2017-08-26 | [New contract lows - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/69471-new-contract-lows-agweek-1-source-for-agriculture-news-farming-markets.md) | +2.0% | +12.2% |
| KWHEAT | 2020-05-17 | [WASDE not as bad as expected, for now - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/53062-wasde-not-as-bad-as-expected-for-now-agweek-1-source-for-agriculture-news.md) | -1.7% | -1.4% |

## Sources

- agweek.com: https://www.agweek.com/opinion/supply-report-hurts-markets

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