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The November 14 WASDE, the first released after the government shutdown, raised U.S. 2025-26 wheat supplies by 58 million bushels to 1,985 million on a record yield and cut the season-average farm price by $0.10 to $5 per bushel. Global wheat supplies, trade and ending stocks were also raised, with ending stocks projected to show the first year-to-year increase in several years.
Larger global wheat supplies and higher ending stocks point to lower wheat prices and more competition for export sales, weighing on the feed grain complex.
hpj.comDavid MurrayNov 28, 2025After 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.
After 138 past bearish report events, Wheat (HRW) moved a median +0.0% over 5 sessions (50% higher; middle half -2.9% to +2.4%), and +0.5% over 20.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% 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.
