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Hard Red Winter wheat July futures fell 16% between April 18 and May 2, mainly after a two-day rain in the southern US Plains. Industry officials said the rain came too late to help most of the crop and called the sell-off an overreaction.
Late rain did not restore the damaged HRW crop, so the sell-off leaves prices out of line with the short US supply.
producer.comSean PrattMay 11, 2023Not 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.
