
Farmers in Kansas are abandoning large portions of wheat fields after an extreme drought, with at least 60% of the crop expected to be abandoned around Lakin in southwestern Kansas. A wheat protein facility in Russell will need to source wheat from other parts of the state.
Heavy abandonment in Kansas cuts hard red winter wheat supply, supporting HRW prices and raising wheat feed costs.
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.
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.
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.