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Severe storms with high winds, heavy rain and hail have damaged much of the Central and Southern Plains hard red winter wheat crop. A Kansas farmer estimated a 25% loss of yield potential, and heavy rain has delayed harvest and lowered test weights.
Yield and quality losses in HRW wheat tighten supply for bread and feed wheat buyers, supporting KC wheat prices and widening its premium over other classes.
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.
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.