
Wheat in France and Germany started 2020 firmly, with EU harvest expectations lowered and feed wheat demand rising. Ukrainian wheat faces drought, while Chicago wheat rose 3.5 cents to 559.5 cents per bushel on speculation of higher Chinese purchases.
Lower EU crop expectations and drought in Ukraine tighten global wheat supply, and anticipated Chinese buying supports prices.
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.
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.