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Wheat futures across the Chicago, Kansas City and Minneapolis exchanges were higher at midday. The USDA’s monthly WASDE raised U.S. wheat ending stocks by 3 million bushels and global carryout by 4.78 million tonnes, alongside a 5.12-million-tonne increase in world production, including larger estimates for Argentina, Australia, Ukraine and Kazakhstan.
Reports also pointed to an Algerian tender that could result in purchases of at least 700,000 tonnes.
Higher global production and carryout estimates point to more available wheat and are bearish for prices, while the potential Algerian purchase could support export demand.
barchart.comAustin SchroederNov 11, 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 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.
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.
