Wheat prices in the US fell to the lowest level since 2020

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.

• Oct 8, 2019The increase in wheat prices reduces demand+4.5%
• May 14, 2025USDA forecasts lower wheat, corn, sorghum prices for 2025/26-3.8%
• Aug 13, 2024Despite lower production and inventory forecasts in the USDA report, wheat exchange prices fell-6.7%
• Jun 29, 2023Wheat prices fell again by 2.2-4.8% on the background of increased acreage in Canada-8.3%
• Mar 18, 2021The higher forecast production in the new season lowers the price of wheat old crop+0.9%

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.

• May 14, 2025USDA forecasts lower wheat, corn, sorghum prices for 2025/26+6.8%
• Aug 13, 2024Despite lower production and inventory forecasts in the USDA report, wheat exchange prices fell-1.4%
• Jun 29, 2023Wheat prices fell again by 2.2-4.8% on the background of increased acreage in Canada+5.3%
• Mar 18, 2021The higher forecast production in the new season lowers the price of wheat old crop-4.1%
• Aug 17, 2022Jekanowski: Wheat Prices Returning To Pre-Ukraine Invasion Levels+1.2%

Not enough comparable past events yet for a historical read.