# Reports confirm large supplies - Agweek | #1 source for agriculture news, farming, markets

> Statistics Canada's production and stocks report surprised the market with bearish data across most commodity categories, as the summer drought did less damage to supplies than expected. USDA's December WASDE made no changes to US 2017-18 production and kept demand changes minimal, leaving large stocks. Malaysia's palm oil data showed stocks expanding as production grew faster than exports.

- Date: 2017-12-17 · published 2017-12-17T12:00:00.000Z
- Category: report · region Global · magnitude medium
- Page: https://feedsoft.ai/events/8429-reports-confirm-large-supplies-agweek-1-source-for-agriculture-news-farming
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Large stocks across wheat, canola and palm oil point to ample supplies heading into the new year. Higher palm oil stocks pressure vegetable oil prices and the broader oilseed complex, which weighs on feed-protein and oil values.

## Read by commodity

- SBO: bearish ▼
- WHEAT: bearish ▼
- CANMEAL: bearish ▼
- PALMOIL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2017-07-16 | [Supply report hurts markets - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/69893-supply-report-hurts-markets-agweek-1-source-for-agriculture-news-farming-markets.md) | -1.0% | -1.4% |
| 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% |
| 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 | 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 | 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% |
| PALMOIL | 2022-08-05 | [Major fall in global food prices for July, but future supply worries remain \| UN News](https://feedsoft.ai/events/40157-major-fall-in-global-food-prices-for-july-but-future-supply-worries-remain-un.md) | +8.5% | +3.7% |
| PALMOIL | 2020-01-26 | [IGC updates global soy supply balance market report](https://feedsoft.ai/events/55113-igc-updates-global-soy-supply-balance-market-report.md) | -1.5% | -12.6% |
| PALMOIL | 2021-06-10 | [Palm oil falls to seven-week low on tepid June exports - Markets - Business Recorder](https://feedsoft.ai/events/10808-palm-oil-falls-to-seven-week-low-on-tepid-june-exports-markets-business-recorder.md) | -6.9% | -5.0% |

## Sources

- agweek.com: https://www.agweek.com/opinion/reports-confirm-large-supplies

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