Winter Wheat Futures Bulls Come to Life. Here’s Why More Price Upside Is Possible.

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.

• Nov 13, 2020No Rain in Plains Turns Hedge Funds Bullish on Winter Wheat-2.7%
• Dec 17, 2019Confluence of bullish news sends wheat futures higher - AgCanada-0.4%
• May 2, 2017Storm Damages Midwest Wheat Crop; More Heavy Rain to Come-2.3%
• Nov 7, 2016No Rain In Plains Turns Hedge Funds Bullish On Winter Wheat | ESM Magazine+1.2%
• May 5, 2026Drought, frost provide lift for U.S. hard red wheat price | The Western Producer+1.8%

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.

• Nov 13, 2020No Rain in Plains Turns Hedge Funds Bullish on Winter Wheat+0.9%
• Dec 17, 2019Confluence of bullish news sends wheat futures higher - AgCanada-0.8%
• May 2, 2017Storm Damages Midwest Wheat Crop; More Heavy Rain to Come-4.5%
• Jan 11, 2019Small U.S. Winter Wheat Crop Likely - ProAg+1.1%
• Nov 15, 2022ANALYSIS - Hard wheat futures build premium, as US seedlings struggle - Grain Price News-2.3%