Wheat futures rose after USDA reported deteriorating US winter crop conditions, with good-to-excellent ratings falling to 52%. Tunisia bought about 92,000 tons of soft wheat at $228.21 per ton CFR in a tender, and MATIF December wheat rose to a three-week high.
Lower US crop ratings and steady import demand support wheat prices, though analysts described the rally as speculative given ample global supply.
After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% over 20.
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.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.