# Wheat futures face December uncertainty

> A Stewart Peterson market adviser previews the December WASDE, noting traders expect higher US wheat export numbers and lower supplies. The November report had lifted ending stocks to 901 million bushels, which weighed on prices. Managed money positioning and the Black Sea are flagged as key drivers.

- Date: 2025-12-05 · published 2025-12-05T12:00:00.000Z
- Category: report · region US · magnitude low
- Page: https://feedsoft.ai/events/21558-wheat-futures-face-december-uncertainty
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Expectations for tighter US wheat supplies could support prices if USDA raises exports, but the prevailing ample-stocks backdrop limits upside for feed wheat costs.

## Read by commodity

- WHEAT: neutral
- KWHEAT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2019-05-20 | [Wheat futures bounce back \| Queensland Country Life \| QLD](https://feedsoft.ai/events/5634-wheat-futures-bounce-back-queensland-country-life-qld.md) | +10.5% | +9.7% |
| WHEAT | 2023-12-28 | [Grain Transportation Report, December 28, 2023](https://feedsoft.ai/events/16577-grain-transportation-report-december-28-2023.md) | +2.2% | +0.7% |
| WHEAT | 2025-12-04 | [Grain Transportation Report, December 4, 2025](https://feedsoft.ai/events/16399-grain-transportation-report-december-4-2025.md) | -1.6% | -1.4% |
| WHEAT | 2019-12-05 | [Grain Transportation Report, December 5, 2019](https://feedsoft.ai/events/55467-grain-transportation-report-december-5-2019.md) | -3.9% | -1.3% |
| WHEAT | 2017-11-27 | [Grain market roundtable: Wheat futures expected to trade sideways \| Bakingbusiness.com \| November 27, 2017 15:36 \| Baking Business](https://feedsoft.ai/events/68032-grain-market-roundtable-wheat-futures-expected-to-trade-sideways-bakingbusiness.md) | +0.4% | +0.6% |
| KWHEAT | 2019-12-13 | [December 12, 2019 – Cascade Commodity Consulting LLC – Cash Wheat Report – Oregon City, OR –](https://feedsoft.ai/events/6294-december-12-2019-cascade-commodity-consulting-llc-cash-wheat-report-oregon-city.md) | +7.7% | +15.3% |
| KWHEAT | 2016-11-10 | [Wheat \| World-grain.com \| November 10, 2016 20:14 \| World Grain](https://feedsoft.ai/events/73889-wheat-world-grain-com-november-10-2016-20-14-world-grain.md) | -0.4% | -3.6% |
| KWHEAT | 2025-04-17 | [France ups soft wheat area estimate](https://feedsoft.ai/events/25049-france-ups-soft-wheat-area-estimate.md) | -3.6% | -5.3% |

## Sources

- farmprogress.com: https://www.farmprogress.com/commentary/will-usda-lower-ending-stocks-for-wheat-

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