◂ Event Timeline

Nov 16, 2023WEATHERUS

Winter wheat crop gets off to good start in U.S.

47% of U.S. winter wheat was rated good to excellent as of Nov. 12, versus 32% a year earlier.

Planting was 93% complete and Kansas drought coverage fell sharply. Western Kansas remains dry since planting.

WHY IT MATTERS

Better U.S. winter wheat conditions ease supply concerns and weigh on wheat prices, though dryness in western Kansas is a lingering risk.

AFFECTSWheat (HRW)▼

SOURCE
producer.comSean PrattNov 16, 2023

Price reaction & history

Wheat (HRW)▼bearishSO FAR1d -2.0%5d -3.9%20d -2.0%

After 70 past bearish weather events, Wheat (HRW) moved a median -0.6% over 5 sessions (41% higher; middle half -3.9% to +2.5%), and -1.1% over 20.

Apr 29, 2021European wheat looks good, but dryness worries persist | The Western Producer+3.0%
May 17, 2024Forecasts of a good wheat harvest in the US and the EU continue to lower stock prices+5.6%
Mar 22, 2017Good weather increases pressure on the wheat exchange-3.3%
Mar 28, 2023Changing Weather Patterns Could Favor U.S. Wheat Production+1.7%
Apr 18, 2018Wheat prices fall on US rain, but dry threat remains for winter crop | Farm Online | ACT+2.5%

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.

Wheat (HRW) KWHEAT · GP ▸

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