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Grain futures rallied as cold temperatures threatened soft red winter wheat fields along the Ohio River. Traders were also watching crude oil ahead of inventory data while the Federal Reserve meeting was pending.
Freeze risk to SRW wheat can tighten nearby supplies and support wheat prices, though the impact depends on whether crop damage materializes.
farmprogress.comMar 15, 2017After 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.
