December Chicago soft red winter wheat settled 4.75 cents higher at $6.0375 on Oct 29, and Kansas City hard red winter wheat rose 2.25 cents to $6.4525. USDA weekly export sales showed a 2026/27 marketing-year high for U.S. wheat, and reports said China's state buyer inquired about U.S. SRW wheat.
Strong export demand and possible Chinese purchase interest support wheat prices, with wheat feeding into the feed-grain complex as a corn substitute.
After 431 past bullish trade events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.3% to +2.1%), and +0.5% over 20.
After 102 past bullish trade events, Wheat (HRW) moved a median 0.0% over 5 sessions (49% higher; middle half -2.0% to +3.5%), and -1.4% over 20.
After 480 past neutral trade 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.