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USDA's November WASDE update left the US balance unchanged from October but raised world ending stocks by nearly 5 Mt. Forecasts rose for Argentina (+1.5 Mt to 23 Mt), Australia (+1.5 Mt) and Ukraine (+0.5 Mt), and global feed consumption was raised by only 1.5 Mt.
Euronext wheat gained about 12 euros per tonne over the week.
Higher world stocks and larger crops in exporting countries weigh on prices, while the modest feed demand increase limits the upside. Wheat gained on Euronext during the week, so the net effect on wheat prices is firmer.
reussir.frThierry MichelNov 13, 2026After 769 past bullish report events, Wheat (SRW) moved a median +0.2% over 5 sessions (53% higher; middle half -1.4% to +2.0%), and +0.2% 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.
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.
