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USDA's first 2026-27 estimates put US wheat at 42.5 million tonnes, down 11.5 million. Global wheat output is seen down 25 million tonnes from last year's record to 819 million, with cuts in the EU, Argentina, Australia and Canada.
A global crop decline of this size tightens wheat supplies and supports prices. Importers may face higher costs as inflation pressures rise.
manitobacooperator.caPhil Franz-WarkentinMay 20, 2026After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% 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.
