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U.S. hard red winter wheat basis bids were steady to higher on Monday even as wheat futures fell for a second straight session. USDA data showed winter wheat conditions improving to 49% good to excellent from 44% a week earlier, with planting advancing to 89% from 83%; dryness still affects about half the crop.
Improving crop conditions and planting progress, alongside expectations for ample global supply, are bearish for wheat prices. Persistent dryness across the Plains crop provides a countervailing supply risk, while steady-to-higher basis bids indicate local cash demand remains firm.
newssignalsai.comNov 9, 2026After 138 past bearish report events, Wheat (HRW) moved a median +0.0% over 5 sessions (50% higher; middle half -2.9% to +2.4%), and +0.5% over 20.
After 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.
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.
