Loading…
Chicago wheat eased on Friday but was headed for its biggest weekly gain in two years as dry weather in Russia and the US threatened supplies. The European Commission cut its EU wheat crop forecast for 2024/25, and corn was on track for its biggest weekly rise in 11 months.
Dryness in Russia and the US and an EU crop cut tighten global wheat supplies, supporting prices and feed grain values, though limited rainfall relief is in the forecast.
brecorder.comReutersApr 26, 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.
After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.
After 324 past neutral weather events, Soybeans moved a median +0.0% over 5 sessions (52% higher; middle half -1.4% to +1.7%), and +0.7% 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.
