CBOT wheat firms again on worse than expected winter wheat conditions

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.

• May 12, 2023Lower-Than-Expected Winter Wheat Production Sends KC Wheat Futures Soaring-1.1%
• Sep 30, 2020Corn, soy, wheat surge on lower-than-expected U.S. grain stocks | Financial Post+2.5%
• May 10, 2024Corn Surges on Lower-Than-Expected Stocks; Wheat, Soy Finish With Solid Gains After Mostly Neutral Report+1.9%
• Dec 15, 2025Corn, wheat export inspections maintain faster than last year paces - Brownfield Ag News-0.3%
• May 18, 2024French wheat conditions hold at 4-year low, maize planting picks up - AgriInsite+19.7%

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.

• May 12, 2023Lower-Than-Expected Winter Wheat Production Sends KC Wheat Futures Soaring-3.9%
• Mar 22, 2018Global Winter Wheat Condition a Mixed Bag - U.S. Wheat Associates-1.0%
• May 10, 2017Winter wheat takes a hit in USDA forecast | 2017-05-10 | Agri-Pulse | Agri-Pulse Communications, Inc.-0.6%
• May 12, 2022USDA warns on corn, winter wheat crops due to weather | 2022-05-12 | Agri-Pulse Communications, Inc.+11.7%
• May 22, 2026Bad outlook for U.S. winter wheat crop gets worse-5.4%