# Wheat inches lower, subdued USDA forecast caps losses - Markets - Business Recorder

> US wheat futures edged lower after the USDA cut its 2020/21 global wheat ending stocks forecast to 301.19 million tonnes, citing Chinese feed wheat demand. The USDA also raised its global corn ending stocks forecast to 287.67 million tonnes, above analyst expectations.

- Date: 2021-03-10 · published 2021-03-10T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/7082-wheat-inches-lower-subdued-usda-forecast-caps-losses-markets-business-recorder
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

The lower global wheat stocks are supportive for wheat, but the higher corn stocks are bearish and limited wheat's decline. Net, the report offers mixed price signals across grains.

## Read by commodity

- CORN: bearish ▼
- WHEAT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2021-03-15 | 5 | -10.3% | -4.5 | USDA raised its global corn ending stocks forecast above expectations, a bearish supply surprise on March 10. |
| CORN | 2021-03-17 | 5 | -9.6% | -4.1 | USDA raised global corn ending stocks above expectations, a bearish supply signal for corn. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2020-08-13 | [Strategie Grains cuts EU, UK wheat crop forecast - Markets - Business Recorder](https://feedsoft.ai/events/51571-strategie-grains-cuts-eu-uk-wheat-crop-forecast-markets-business-recorder.md) | +0.7% | +11.5% |
| WHEAT | 2021-03-12 | [Coceral cuts EU, UK soft wheat, rapeseed crop forecasts - Markets - Business Recorder](https://feedsoft.ai/events/48083-coceral-cuts-eu-uk-soft-wheat-rapeseed-crop-forecasts-markets-business-recorder.md) | -0.3% | +0.5% |
| WHEAT | 2020-06-25 | [EU sharply cuts soft wheat harvest forecast again - Markets - Business Recorder](https://feedsoft.ai/events/52547-eu-sharply-cuts-soft-wheat-harvest-forecast-again-markets-business-recorder.md) | +0.8% | -5.4% |
| WHEAT | 2021-06-24 | [EU trims 2021/22 wheat harvest and stocks forecasts - Markets - Business Recorder](https://feedsoft.ai/events/46520-eu-trims-2021-22-wheat-harvest-and-stocks-forecasts-markets-business-recorder.md) | -0.1% | -3.6% |
| WHEAT | 2022-06-05 | [French wheat crop rating slips further - Markets - Business Recorder](https://feedsoft.ai/events/40875-french-wheat-crop-rating-slips-further-markets-business-recorder.md) | +0.1% | -0.9% |
| CORN | 2021-09-14 | [China cuts forecast for feed use of corn in 2021/22 - Markets - Business Recorder](https://feedsoft.ai/events/45063-china-cuts-forecast-for-feed-use-of-corn-in-2021-22-markets-business-recorder.md) | -1.4% | +0.3% |
| CORN | 2023-10-04 | [Chicago wheat down - Markets - Business Recorder](https://feedsoft.ai/events/7138-chicago-wheat-down-markets-business-recorder.md) | -0.6% | -2.7% |
| CORN | 2024-11-26 | [Wheat extends losses on better US crop outlook, firmer dollar - Markets - Business Recorder](https://feedsoft.ai/events/11777-wheat-extends-losses-on-better-us-crop-outlook-firmer-dollar-markets-business.md) | -0.6% | +4.7% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40072098

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