
Analysts expect world wheat stocks to rise to 271 million tonnes by end-2025/26, up from 264 million at end-2024/25. Russia's crop is forecast at 83-85 million tonnes and the EU's could exceed 138 million, against 122 million last year.
Canada's spring wheat prospects have also improved after rain on the Prairies.
A larger-than-expected global crop and rising stocks are likely to limit upside in wheat prices. Lower wheat prices can also pressure feed grain values.
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.
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.
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.