
U.S. winter wheat seedings fell to 32.383 million acres from 36.137 million a year earlier, the smallest since 1909. U.S. wheat stocks on December 1 rose to 2.073 billion bushels, the highest December supply since 1987.
Sharply lower winter wheat area supports Hard Red Winter prices over the longer term, though record stocks limit the rally and keep feed wheat supplies ample.
After 180 past bullish report events, KWHEAT moved a median +0.4% over 5 sessions (53% higher; middle half -2.1% to +3.7%), and -0.6% over 20.
After 769 past bullish report events, WHEAT moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.