Wheat Futures Tumble, While Protein Premiums Soar

After 180 past bullish report events, Wheat (HRW) moved a median +0.4% over 5 sessions (53% higher; middle half -2.1% to +3.7%), and -0.6% over 20.

• Nov 2, 2017U.S. High-Protein Wheat Supplies Tightening - U.S. Wheat Associates+2.8%
• Jan 25, 2018Global Supplies of High Protein Wheat Keep Tightening - U.S. Wheat Associates+7.9%
• Jun 29, 2017World Wheat Production to Decline in 2017/18 - U.S. Wheat Associates+15.0%
• Sep 19, 2018Weather Continues to Affect Global Wheat Production - U.S. Wheat Associates+1.2%
• Jun 28, 2018Strong Demand Pushes Global Wheat Prices Higher - U.S. Wheat Associates+4.7%

After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.

• Feb 5, 2019USW Reports on World Wheat Production and Exports - U.S. Wheat Associates+0.3%
• Apr 20, 2017Importer Ending Stocks Shrink to 6-Year Low - U.S. Wheat Associates+1.3%
• Oct 3, 2019Production Update: USDA Confirms High U.S. Wheat Yields Offset Reduced Planted Area - U.S. Wheat Associates-4.2%
• Dec 8, 2023U.S. grains: CBOT grain, soybean futures tumble after monthly USDA data | Farmtario-4.0%
• Jun 30, 2025U.S. grains: Soy futures end mixed; corn and wheat sag after USDA reports | The Western Producer-0.7%