Wheat Prices Jump as Drought Threatens U.S. Output

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.

• Mar 13, 2018Drought threat intensifies for U.S. Plains winter wheat crop-7.6%
• May 31, 2018Drought and U.S. Rail Rates Prop Up U.S. Export Prices - U.S. Wheat Associates-0.2%
• Nov 3, 2022Wheat prices up amid war, expanding drought | texaswheat.org-1.1%
• Mar 31, 2026Wheat Prices Surge on US Drought and Planting Uncertainty-3.0%
• May 31, 2026Wheat Futures Prices Have Surged 30% This Year As Iran War Hit Fertilizer Supplies and U.S. Drought Sent Output To A 54-Year Low-4.5%

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.

• Mar 13, 2018Drought threat intensifies for U.S. Plains winter wheat crop-1.6%
• Mar 23, 2022Canadian farmers face drought threat as global wheat, canola prices soar+1.3%
• Nov 3, 2022Wheat prices up amid war, expanding drought | texaswheat.org+7.2%
• Mar 31, 2026Wheat Prices Surge on US Drought and Planting Uncertainty-0.7%
• May 31, 2026Wheat Futures Prices Have Surged 30% This Year As Iran War Hit Fertilizer Supplies and U.S. Drought Sent Output To A 54-Year Low-2.6%