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Kansas winter wheat ratings improved slightly to 13 percent good to excellent, with 50 percent poor to very poor, and Oklahoma stood at 6 percent good to excellent. Egypt bought 175,000 tonnes of Russian wheat, as U.S. wheat was less price-competitive.
Poor Plains winter wheat conditions and weak U.S. export competitiveness are supportive for hard red wheat prices, with dry weather driving the rally.
agweek.comRay Grabanski, Progressive AgMar 11, 2018After 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 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.
