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USDA's latest WASDE for 2025/26 showed US wheat exports lifted to 875 million bushels, with ending stocks at 869 million bushels and a season-average farm price cut to $5.30. Global wheat ending stocks were reduced to 260.1 million tons, the lowest since 2015/16, as losses in China, Brazil and Argentina outweighed EU gains.
Lower global ending stocks and strong US export sales tighten the wheat balance and support prices. The reduced US farm price reflects softer near-term expectations, which limits how far the bullish signal can run.
grainchronicle.comGrain Chronicle2025年8月28日在过去 769 次看涨的报告事件之后，小麦(SRW) 在 5 个交易日内中位数变动 +0.2%（53% 上涨；中间一半区间为 -1.4% 至 +2.0%），20 个交易日内为 +0.2%。
各商品基准价相对事件前最后收盘价的变动。历史数据汇总同类过往事件；仅描述已发生的情况，不代表未来走势。不构成投资建议。
