Montana Ag Network: Why Wheat Markets Are At 10-Year Highs

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.

• Nov 4, 2018Wheat markets mixed during week - Agriculture News Network-4.2%
• May 21, 2019Corn climbs to 1-year peak, wheat hits 3-month high-13.2%
• Apr 21, 2021Midweek Markets: Soybeans soar to seven-year highs+4.5%
• Apr 24, 2024Paris wheat around 3-month highs on weather worries, short covering - Markets - Business Recorder-1.9%
• Jul 5, 2024French soft wheat yield seen 11% below 10-year average - Markets - Business Recorder+9.4%

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.

• May 21, 2019Corn climbs to 1-year peak, wheat hits 3-month high+2.4%
• Apr 21, 2021Midweek Markets: Soybeans soar to seven-year highs+14.7%
• Aug 19, 2020Midweek Markets: Where are grain prices headed next?+2.3%
• Oct 8, 2020Poultry feed prices hit five-year high - Poultry Network+2.3%
• Apr 23, 2021EU wheat, rapeseed at fresh highs in grain surge - Markets - Business Recorder+10.5%