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Minneapolis spring wheat is struggling as forecasters watch the weather. Some rain is forecast for Canada, but a Northstar analyst says there is no real threat to the spring wheat crop yet.
Quality concerns on the hard red winter crop are also weighing on the wheat market.
With no current yield threat to spring wheat, weather is a limited price driver for now. Feed buyers should watch for protein quality changes if Kansas City hard red winter wheat comes in below normal.
rrfn.comCarah HartJun 12, 2019After 224 past neutral weather events, Wheat (SRW) moved a median -0.1% over 5 sessions (46% higher; middle half -1.4% to +1.5%), and +0.4% 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.
