Wheat Production Unchanged in Latest WASDE Report, Allendale’s Rich Nelson Says It’s a Mild Report

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.

• Nov 22, 2023US Wheat Associates Weekly Price Report – November 22, 2023 - Oklahoma Farm Report-0.4%
• Feb 5, 2019USW Reports on World Wheat Production and Exports - U.S. Wheat Associates+0.3%
• Mar 8, 2023USDA Crop Production Report Out Today: Lower Soybean Ending Stocks and Higher Corn - Oklahoma Farm Report-0.9%
• Aug 13, 2024Despite lower production and inventory forecasts in the USDA report, wheat exchange prices fell-6.7%
• Jul 12, 2022Latest USDA WASDE report hits markets hard | An official publication of Michigan Farm Bureau+7.2%

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.

• Nov 22, 2023US Wheat Associates Weekly Price Report – November 22, 2023 - Oklahoma Farm Report+3.9%
• Feb 5, 2019USW Reports on World Wheat Production and Exports - U.S. Wheat Associates-3.3%
• Aug 13, 2024Despite lower production and inventory forecasts in the USDA report, wheat exchange prices fell-1.4%
• Jun 20, 2023Not much action in USDA's June WASDE report+2.9%
• Mar 18, 2021The higher forecast production in the new season lowers the price of wheat old crop-4.1%