$7 wheat is back as Plains drought slashes crop prospects

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

• Mar 13, 2018Drought threat intensifies for U.S. Plains winter wheat crop-7.6%
• Jul 29, 2021Black Sea wheat price surges as dry weather slashes crop outlooks - Fastmarkets+5.3%
• Mar 26, 2026Wheat spread hits one-year high as drought fears grow in US plains-0.6%
• Feb 8, 2018U.S. Crop Conditions Fall as Drought Conditions Worsen - U.S. Wheat Associates-2.3%
• Aug 26, 2021Agriculture and Agri-Food Canada (finally) acknowledges heat, drought have slashed its wheat and canola crops - Pro Farmer-1.0%

After 1,072 past bullish weather events, WHEAT moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.

• Mar 13, 2018Drought threat intensifies for U.S. Plains winter wheat crop-1.6%
• Jul 29, 2021Black Sea wheat price surges as dry weather slashes crop outlooks - Fastmarkets+2.2%
• Feb 8, 2018U.S. Crop Conditions Fall as Drought Conditions Worsen - U.S. Wheat Associates-0.5%
• Aug 10, 2018Drought slashes EU wheat, export surplus to be cut - AgCanada-2.9%
• Aug 26, 2021Agriculture and Agri-Food Canada (finally) acknowledges heat, drought have slashed its wheat and canola crops - Pro Farmer+0.1%