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Dry soils in Russia and Ukraine are hampering planting of the next winter wheat crop, with European Russia showing significant dryness. Russia's latest crop fell about 10% on weather, and Ukraine's output is about a third below pre-war levels.
Planting delays in the Black Sea, which supplies a large share of world wheat exports, raise next-season supply risk and support wheat prices.
farmpolicynews.illinois.eduRyan HanrahanSep 18, 2024After 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.
Not enough comparable past events yet for a historical read.
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.
Dry soils in Russia and Ukraine hampering winter wheat planting raised concern about next year's Black Sea supply.
