# Higher Wheat Futures on Weather - ADM Investor Services

> Wheat futures rallied sharply on Monday and were higher overnight on dryness across the US southern Plains and southern Russia, plus an EU freeze forecast. USDA cut the US winter wheat rating to 50% good to excellent from 55%, and planting progress and export data were also reported.

- Date: 2024-04-23 · published 2024-04-23T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/12143-higher-wheat-futures-on-weather-adm-investor-services
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Dryness in key wheat areas and a freeze risk in Europe reduce expected crop output, supporting wheat prices and competing feed grain values, while US corn export strength supports corn.

## Read by commodity

- SOY: neutral
- CORN: neutral
- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| KWHEAT | 2024-04-25 | 5 | +11.1% | 2.8 | Describes the sharp wheat rally on southern Plains and Russian dryness, an EU freeze forecast and the USDA rating cut, which is the same supply-weather driver, though it largely duplicates the other reports. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2020-10-07 | [Black Sea Futures at All-Time Highs - ADM Investor Services](https://feedsoft.ai/events/12137-black-sea-futures-at-all-time-highs-adm-investor-services.md) | +0.4% | -0.1% |
| WHEAT | 2019-06-17 | [Wet weather in US pushes up wheat futures \| Farm Online \| ACT](https://feedsoft.ai/events/58618-wet-weather-in-us-pushes-up-wheat-futures-farm-online-act.md) | -6.1% | -8.7% |
| WHEAT | 2016-07-14 | [Bullish weather outlook drives futures higher](https://feedsoft.ai/events/4943-bullish-weather-outlook-drives-futures-higher.md) | +0.7% | +1.0% |
| WHEAT | 2017-07-27 | [Crop futures higher Thurs. on dry weather \| The Western Producer](https://feedsoft.ai/events/70067-crop-futures-higher-thurs-on-dry-weather-the-western-producer.md) | +6.5% | -1.1% |
| WHEAT | 2024-09-27 | [Global Ag News for Sept 27.24 - ADM Investor Services](https://feedsoft.ai/events/28355-global-ag-news-for-sept-27-24-adm-investor-services.md) | +0.9% | -6.0% |
| KWHEAT | 2019-06-17 | [Wet weather in US pushes up wheat futures \| Farm Online \| ACT](https://feedsoft.ai/events/58618-wet-weather-in-us-pushes-up-wheat-futures-farm-online-act.md) | -5.0% | -5.7% |
| KWHEAT | 2017-07-27 | [Crop futures higher Thurs. on dry weather \| The Western Producer](https://feedsoft.ai/events/70067-crop-futures-higher-thurs-on-dry-weather-the-western-producer.md) | -2.3% | -16.4% |
| KWHEAT | 2024-07-09 | [Global Ag News for July 9.24 - ADM Investor Services](https://feedsoft.ai/events/11198-global-ag-news-for-july-9-24-adm-investor-services.md) | -3.1% | -2.3% |

## Sources

- admis.com: https://www.admis.com/higher-wheat-futures-on-weather/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.