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Wheat futures in Chicago, Kansas City and Minneapolis rose over two sessions after drought in Ukraine and Russia raised concerns about winter crops. US winter wheat was 80% sown and 46% rated good or excellent, while US wheat exports were 17% behind last year's pace.
Drought risk in the Black Sea and weaker US export pace shape the wheat balance, supporting feed grain prices as buyers weigh future supply.
graintrade.com.uaOct 26, 2021After 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.
After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% 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.
