# Global wheat market trends 2024 | Stock Journal | SA

> US wheat futures hit contract lows after breaking long-term support, with May SRW at 551 cents per bushel. The USDA's outlook forum for 2024/25 was broadly bearish for major US crops. EU milling wheat fell to near 190 euros per tonne amid large EU stocks.

- Date: 2024-03-05 · published 2024-03-05T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/7302-global-wheat-market-trends-2024-stock-journal-sa
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Lower prices reflect strong global supply and expectations of sound 2024/25 production. The HRW drought premium has evaporated, removing a source of support for that class.

## Read by commodity

- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-07-15 | [Wheat Market Outlook – July 15, 2024 \| Sask Wheat](https://feedsoft.ai/events/9370-wheat-market-outlook-july-15-2024-sask-wheat.md) | -3.2% | -2.3% |
| WHEAT | 2025-06-30 | [Wheat Market Outlook – June 30, 2025 \| Sask Wheat](https://feedsoft.ai/events/24270-wheat-market-outlook-june-30-2025-sask-wheat.md) | -0.7% | -1.8% |
| WHEAT | 2020-06-29 | [Wheat Market Outlook – June 29th, 2020 \| Sask Wheat](https://feedsoft.ai/events/52643-wheat-market-outlook-june-29th-2020-sask-wheat.md) | -6.5% | -4.5% |
| WHEAT | 2021-06-07 | [Wheat Market Outlook – June 7th, 2021 \| Sask Wheat](https://feedsoft.ai/events/46642-wheat-market-outlook-june-7th-2021-sask-wheat.md) | +1.2% | -2.1% |
| WHEAT | 2020-06-15 | [Wheat Market Outlook – June 15th, 2020 \| Sask Wheat](https://feedsoft.ai/events/52650-wheat-market-outlook-june-15th-2020-sask-wheat.md) | -1.5% | -5.3% |
| KWHEAT | 2024-07-15 | [Wheat Market Outlook – July 15, 2024 \| Sask Wheat](https://feedsoft.ai/events/9370-wheat-market-outlook-july-15-2024-sask-wheat.md) | -5.6% | -8.3% |
| KWHEAT | 2025-06-30 | [Wheat Market Outlook – June 30, 2025 \| Sask Wheat](https://feedsoft.ai/events/24270-wheat-market-outlook-june-30-2025-sask-wheat.md) | -1.5% | +1.9% |
| KWHEAT | 2020-06-29 | [Wheat Market Outlook – June 29th, 2020 \| Sask Wheat](https://feedsoft.ai/events/52643-wheat-market-outlook-june-29th-2020-sask-wheat.md) | +2.7% | +4.3% |

## Sources

- stockjournal.com.au: https://www.stockjournal.com.au/story/8546096/global-wheat-market-trends-2024/

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