Wheat feels the heat of record low US acres and drought reduced yields

After 322 past bullish weather events, Wheat (HRW) moved a median -0.1% over 5 sessions (49% higher; middle half -2.5% to +3.2%), and +1.0% over 20.

• Jun 6, 2018Drought and US rail rates prop up export prices - High Plains Journal+4.6%
• Mar 26, 2026Extreme weather added drought pressure to High Plains - High Plains Journal-0.6%
• Feb 12, 2018Drought relief expected to help grain and cattle outlook - High Plains Journal+2.8%
• Mar 26, 2026Wheat spread hits one-year high as drought fears grow in US plains-0.6%
• Jun 22, 2026After drought and wildfires, wheat farmers in the Great Plains are in for a rough year | HPPR-5.1%

After 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.

• Jun 6, 2018Drought and US rail rates prop up export prices - High Plains Journal+0.2%
• Jun 22, 2026After drought and wildfires, wheat farmers in the Great Plains are in for a rough year | HPPR-1.6%
• Jul 31, 2021Wheat set for second monthly gain as drought cuts US yields - Markets - Business Recorder+1.8%
• Jun 30, 2017Wheat futures rally amid worsening drought in the Northern Plains+1.3%
• May 29, 2023Corn, Soybeans and Wheat in the Grips of Drought - AgWeb-1.4%