Possible frost damage to crops in the United States supported wheat prices, which are gradually declining

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.

• May 15, 2019The price of wheat in the United States and Europe has increased dramatically+11.2%
• May 13, 2021A"maize"ing global support for wheat prices | The Land | NSW-1.8%
• Dec 26, 2022Severe Christmas frosts in the USA led to a speculative increase in wheat prices+0.8%
• Mar 31, 2026War with Iran and dry weather in the US are pushing up US wheat prices, but they are limited by significant supply-0.7%
• May 5, 2020UK to see smallest wheat crops in decades: Carr’s Flour monthly Wheat Report-1.7%

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.

• May 15, 2019The price of wheat in the United States and Europe has increased dramatically+8.5%
• Dec 26, 2022Severe Christmas frosts in the USA led to a speculative increase in wheat prices-0.6%
• Mar 31, 2026War with Iran and dry weather in the US are pushing up US wheat prices, but they are limited by significant supply-3.0%
• May 5, 2020UK to see smallest wheat crops in decades: Carr’s Flour monthly Wheat Report+2.5%
• Feb 6, 2018US crop worries supports wheat prices | VIC+3.4%