USDA's Economic Research Service reports that US wheat planted area for the 2020 marketing year is forecast at 44.7 million acres, the smallest on record. Winter wheat is expected to make up about 68% of total sowings, a share that has been stable.
A record-low US wheat area points to tighter future US wheat supply, though it is a long-term trend and provides limited near-term price support.
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.
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.
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.