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U.S. wheat prices have declined from late-summer three-year highs as export demand weakened. USDA lowered its 2026-27 U.S. wheat export estimate by 25 million bushels to 750 million, a 17% drop from the prior year, and cut its average price forecast by 10 cents to $6.30 per bushel.
HRW and SRW futures were down 17% to 18% from early-September peaks.
Uncompetitive U.S. supplies against Canadian, Australian and Argentine crops are weighing on export demand and prices, keeping downward pressure on wheat as feed alternatives.
ronnelundgren.comEdmund Hettinger DCNov 1, 2026After 82 past bearish trade events, Wheat (HRW) moved a median -0.3% over 5 sessions (48% higher; middle half -2.8% to +1.9%), and +0.1% over 20.
After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% 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.
