# Wheat market’s reaction to U.S. rain baffles grain sector | The Western Producer

> 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.

- Date: 2023-05-11 · published 2023-05-11T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/36021-wheat-market-s-reaction-to-u-s-rain-baffles-grain-sector-the-western-producer
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Late rain did not restore the damaged HRW crop, so the sell-off leaves prices out of line with the short US supply.

## Read by commodity

- KWHEAT: neutral

## Sources

- producer.com: https://www.producer.com/markets/wheat-markets-reaction-to-u-s-rain-baffles-grain-sector/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.