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The US Seasonal Drought Outlook expects drought to persist or worsen across much of the western US through July 2022. Along the Pacific Coast and across Idaho, Utah and Nevada, improvement is considered unlikely.
Continued drought in western wheat and rangeland areas can reduce local forage and wheat output, supporting prices for hard red winter wheat and cattle feed costs.
cpc.ncep.noaa.govMay 1, 2022After 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.
