USDA Says There’s Less Wheat (Finally)

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.

• Jul 28, 2025Dryness reduces Australian wheat output says USDA attaché - Grainews-1.3%
• Jul 3, 2023Australia to export less wheat, more barley: USDA FAS-9.9%
• Mar 9, 2021U.S. grains: Wheat and soy climb, corn sags after USDA data - Manitoba Co-operator-0.2%
• May 8, 2026Grains surge as USDA wheat shock meets biofuel-driven soy demand | Saxo+3.3%
• Jun 12, 2018U.S. grains: Wheat surges after USDA cuts Russian output estimate - Grainews-0.9%

After 1,040 past bullish report events, Corn moved a median +0.5% over 5 sessions (62% higher; middle half -0.9% to +2.0%), and +0.8% over 20.

• Nov 9, 2022GRAINS-Wheat Drops as USDA Raises Global Supply View; Corn, Soybeans Firm+1.6%
• Apr 13, 2018Current season wheat stock rises, coarse grains stocks fall: USDA - Grain Central-0.4%
• May 8, 2026Grains surge as USDA wheat shock meets biofuel-driven soy demand | Saxo+1.3%
• Jun 12, 2018U.S. grains: Wheat surges after USDA cuts Russian output estimate - Grainews-2.1%
• Jan 12, 2022U.S. grains: Wheat futures fall on bigger-than-expected plantings, stocks - AgCanada-2.6%