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Wheat futures hit 10-month highs on forecasts of hot, dry weather in US, Ukrainian and Russian growing areas. A Russian research institute cut its Russian wheat production forecast by 3 million tonnes to 69.5-77.5 million tonnes, and Russian spring wheat planting is lagging.
Russian crop cuts and heat risk across major exporters tighten world wheat supplies, lifting feed wheat and competing feed grain prices.
graintrade.com.uaMay 29, 2018After 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 322 past bullish weather events, Wheat (HRW) moved a median -0.1% over 5 sessions (49% higher; middle half -2.5% to +3.2%), and +1.0% 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.
