Wheat prices strengthened by lower global production

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.

• Apr 1, 2021UK feed wheat price rises after surprise in global market - Farmers Weekly+0.2%
• Jul 11, 2019Global Wheat Stocks Revised Lower, Boosting Prices+0.4%
• Aug 16, 2021Barley prices rise amid lower global production forecast for my 2021/22+1.1%
• Aug 17, 2021USDA slashes global wheat production - Grain Central+0.1%
• Sep 19, 2018Weather Continues to Affect Global Wheat Production - U.S. Wheat Associates+0.7%

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.

• Jul 11, 2019Global Wheat Stocks Revised Lower, Boosting Prices+0.1%
• Aug 17, 2021USDA slashes global wheat production - Grain Central-4.4%
• Sep 19, 2018Weather Continues to Affect Global Wheat Production - U.S. Wheat Associates+1.2%
• Jul 14, 2020Global wheat production on the decline - Grain Central-1.2%
• Jan 17, 2024WHEAT SCOOPS: 2024 wheat production, price+2.7%

Not enough comparable past events yet for a historical read.