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A record cold snap threatened heating-fuel shortages from the East Coast to Texas and pushed natural gas demand to unprecedented levels. The cold also put crops across the U.S. wheat belt at risk.
Crop damage risk in the wheat belt could tighten wheat supplies, while strong gas demand lifts energy prices.
bloomberg.comBrian K SullivanJan 2, 2018After 221 past bullish weather events, Natural Gas moved a median +3.3% over 5 sessions (61% higher; middle half -5.2% to +14.0%), and -0.3% over 20.
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.
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.
