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Cool, wet late-summer weather in the US hard red spring wheat belt has produced low falling numbers, a quality defect that causes sprouting and starch breakdown. The issue is present across the belt and can cut grade and price for affected lots.
Low falling numbers reduce milling and baking quality, so buyers may face a premium for clean HRS lots or discounts on affected wheat, which tightens quality-grade supply.
agweek.comAllison ThompsonAug 23, 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.
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.
