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Wheat prices reached their highest level in eight months after geopolitical conflict and extreme weather disrupted supplies. Chicago SRW futures rose 15% in the last month of April.
Excess rain in Europe and dry soil in Ukraine, Russia, Australia and the US have drawn down stockpiles.
Persistent supply disruptions across major exporters and expected future supply pressure point to higher wheat prices, which would raise feed grain costs.
markets.businessinsider.comJennifer SorMay 9, 2024After 1,072 past bullish weather events, WHEAT 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, 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.
