Rosario Grain Exchange raised Argentina's 2026/27 wheat crop forecast by 500,000 tonnes to 24.3 million tonnes, and Australia's crop is seen near 32 million tonnes. USDA confirmed a Chinese purchase of 136,000 tonnes of US soybeans for 2026/27 delivery, while corn exports remain sluggish.
Larger Argentine and Australian wheat supplies plus a firm dollar add pressure on wheat prices, while the Chinese soybean purchase gives modest support to soybeans and meal.
After 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 696 past bullish trade events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.3% to +1.9%), and +0.7% over 20.
After 683 past bearish trade events, Corn moved a median -0.2% over 5 sessions (47% higher; middle half -1.7% to +1.6%), 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.