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CBOT soft red winter wheat rallied for a third straight session on concerns that adverse weather would cut crops in key growing regions. Dryness was reported in Australia and Russia, major wheat exporters.
Corn and soybean futures were roughly unchanged as traders assessed Midwest planting rains.
Dryness in major wheat exporters tightens expected global supplies and supports wheat prices. Feed-grain prices are less affected since corn and soy were flat.
cnbc.comMark WeinraubMay 17, 2018After 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.
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.
