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Wheat prices were highly volatile during the week, rising to multi-month highs in Chicago and Kansas before correcting after China confirmed a 120,000 ton US wheat order far below rumored volumes. Russian export prices were stable with rising export estimates, Argentina and Australia expected to compete, and the weak euro supported EU exports.
Maize demand was firm, supported by export inspections and soybean market conditions.
Confirmed Chinese demand fell well short of expectations, and rising competition from Russia, Argentina and Australia caps wheat prices, while firm maize demand supports corn.
zmp.deNov 7, 2025After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% over 20.
After 82 past bearish trade events, Wheat (HRW) moved a median -0.3% over 5 sessions (48% higher; middle half -2.8% to +1.9%), and +0.1% over 20.
After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
Not enough comparable past events yet for a historical read.
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.
Wheat corrected from multi-month highs after China confirmed a 120kt order well below rumors, with Russian and Argentine competition adding bearish pressure.
