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The USDA's monthly world outlook for 2026-27 raises wheat production to 822.4 million tonnes (+3.1 million), mainly from Australia, Canada and Ukraine, and raises ending stocks to 276.3 million tonnes. Trade is cut to 211.8 million tonnes on lower Russian and Ukrainian exports, while consumption rises on feed use.
Higher output and stocks weigh on near-term wheat prices, but Black Sea logistics problems and El Niño risks may limit the decline. Lower trade volumes mean importers face tighter access to Black Sea supply.
ellinasagrotis.grΕΛΛΗΝΑΣ ΑΓΡΟΤΗΣNov 3, 2026After 1,006 past bearish report events, Wheat (SRW) moved a median +0.0% over 5 sessions (50% higher; middle half -1.6% to +1.8%), and +0.3% over 20.
After 770 past neutral report events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.1% to +1.6%), and +0.7% over 20.
After 563 past neutral report events, Soybeans moved a median -0.1% over 5 sessions (48% higher; middle half -1.7% to +1.6%), and -0.1% 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.
