
USDA's January 10 Winter Wheat Seedings report showed U.S. farmers planted 30.8 million acres of winter wheat for 2020, 7% below the five-year average. HRW area fell 1% and Nebraska hit a record low, while SRW plantings rose.
Fewer winter wheat acres, including the second smallest on record, point to tighter U.S. wheat supplies and modest upward pressure on prices.
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.