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Wheat prices hit a 10-month high at the start of the week on forecasts of dry, hot weather in the U.S., Ukraine and Russia wheat regions. Chicago SRW and Kansas City HRW July futures rose about 3.7% and crossed USD 200/ton.
Forecast heat and dryness in major exporting regions threaten yields and export supplies, supporting wheat prices and feed-grain substitution costs.
latifundist.comMay 31, 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.
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.
