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Wheat futures rose to their highest level in eight years on April 26, 2021, joining corn and soybeans at multi-year highs. Adverse weather across the Americas and Europe threatened production while stockpiles remained tight.
Weather-driven production risk combined with depleted stocks and strong Chinese grain demand supports wheat prices and raises feed-grain costs for buyers.
seekingalpha.comCarl SurranApr 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.
After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), 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.
