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SovEcon reported that on January 30 CBOT March SRW wheat closed at $5.41/bu, HRW at $5.47 and Euronext at €191.25/mt, with corn at $4.31. Russia's Hydrometcenter forecast sharply below-normal temperatures in central Russia from January 30 to February 4, and Kazakhstan raised its 2025/26 wheat and feed flour export forecast to a record 12.6 mmt.
Cold snaps in Russia add some weather risk premium to wheat, but record Kazakh exports and ample Black Sea supply limit the price impact.
blog.sizov.reportAndrey SizovJan 29, 2026blog.sizov.reportAndrey SizovJan 30, 2026After 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.
After 445 past neutral weather events, Corn moved a median +0.1% over 5 sessions (52% higher; middle half -1.4% to +1.6%), and +0.7% over 20.
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.
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.
