Black Sea wheat price surges as dry weather slashes crop outlooks

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.

• May 22, 2024Black Sea, Canadian wheat prices surge on weather, crop fears | S&P Global-7.4%
• Apr 4, 2020Wheat Market Stabilizes, as the Black Sea Weather Remains Dry+2.3%
• May 7, 2026$7 wheat is back as Plains drought slashes crop prospects+3.6%
• Jun 28, 2017Wheat prices firm on worries dry weather could hit U.S. crops+3.2%
• Jun 14, 2019Feed weekly outlook: Grain prices strong as dry weather persists - Grainews-6.0%

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.

• May 22, 2024Black Sea, Canadian wheat prices surge on weather, crop fears | S&P Global+2.6%
• Apr 4, 2020Wheat Market Stabilizes, as the Black Sea Weather Remains Dry+4.7%
• May 7, 2026$7 wheat is back as Plains drought slashes crop prospects+5.7%
• Sep 22, 2020Drought hampering Black Sea crop sowing sparks light in wheat prices | The Land | NSW-0.9%
• May 12, 2022Wheat Prices Spike as US Sees War, Adverse Weather Hurting Crops - Bloomberg+11.7%