Loading…
Chicago July wheat futures reached 694 cents a bushel, a ten-month high, on concerns about Russian production and wet weather in other key producing regions. Western Australia faces dry conditions, and rain in France is also being monitored as a competitor for wheat and barley into China.
Russian crop damage and dryness in Australia and Western Australia support global wheat values and could tighten barley supply for feed buyers. Wet weather in France is a competing supply factor to monitor.
farmonline.com.auGregor HeardMay 14, 2024After 1,072 past bullish weather events, Wheat (SRW) moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
Not enough comparable past events yet for a historical read.
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.
