# Rural News Crop report pegs cut in global wheat production next year, but record stocks set to remain

> USDA's May World Agricultural Supply and Demand Estimates project a cut in world wheat production for next season to the second-highest level on record, while global stocks are still projected at a record 258.3 million tonnes. Australian wheat output is forecast to fall nearly 30 percent to 25 million tonnes.

- Date: 2017-05-11 · published 2017-05-11T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/70950-rural-news-crop-report-pegs-cut-in-global-wheat-production-next-year-but-record
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Lower projected output tightens supply somewhat, but record global stocks cap upside, so feed-grain buyers face limited near-term price pressure from this report.

## Read by commodity

- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2017-03-02 | [Global wheat production projected to drop - Brownfield Ag News](https://feedsoft.ai/events/72051-global-wheat-production-projected-to-drop-brownfield-ag-news.md) | -0.0% | +0.2% |
| WHEAT | 2023-01-12 | [USDA Releases January Crop Production, WASDE, Grain Stocks, Winter Wheat Seedings Reports](https://feedsoft.ai/events/13308-usda-releases-january-crop-production-wasde-grain-stocks-winter-wheat-seedings.md) | -0.6% | +2.0% |
| WHEAT | 2023-03-03 | [Global cereal stocks falling in 2022/23; early prospects point to a decline in wheat production in 2023 – FAO](https://feedsoft.ai/events/12656-global-cereal-stocks-falling-in-2022-23-early-prospects-point-to-a-decline-in.md) | -2.6% | +4.7% |
| WHEAT | 2021-07-22 | [India’s grain production to reach new record highs  \| World Grain](https://feedsoft.ai/events/46030-india-s-grain-production-to-reach-new-record-highs-world-grain.md) | -1.2% | +0.8% |
| WHEAT | 2017-06-14 | [ABARE crop report signals a 33 per cent fall in winter crop production  \| The Rural \| Wagga Wagga, NSW](https://feedsoft.ai/events/70450-abare-crop-report-signals-a-33-per-cent-fall-in-winter-crop-production-the.md) | +0.6% | +1.3% |
| KWHEAT | 2017-03-02 | [Global wheat production projected to drop - Brownfield Ag News](https://feedsoft.ai/events/72051-global-wheat-production-projected-to-drop-brownfield-ag-news.md) | -1.8% | -9.0% |
| KWHEAT | 2021-08-17 | [USDA slashes global wheat production - Grain Central](https://feedsoft.ai/events/45538-usda-slashes-global-wheat-production-grain-central.md) | -4.4% | -6.8% |
| KWHEAT | 2020-07-14 | [Global wheat production on the decline - Grain Central](https://feedsoft.ai/events/52052-global-wheat-production-on-the-decline-grain-central.md) | -1.2% | -6.0% |

## Sources

- abc.net.au: https://www.abc.net.au/news/rural/rural-news/2017-05-11/crop-report-pegs-cut-to-wheat-production/8516324

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