# Wheat Holds Weather Premium

> World wheat prices rallied after higher FOB Black Sea prices, with feed wheat also supported by strong soymeal, which hit 20-month highs on Argentina's deepening drought. La Niña is blamed for the drought, and Argentine soybean and corn conditions declined further in the Buenos Aires Grain Exchange report. Basis improved in the US, Canada and Russia as cold weather slowed logistics.

- Date: 2018-02-16 · published 2018-02-16T12:00:00.000Z
- Category: weather · region Global · magnitude medium
- Page: https://feedsoft.ai/events/66557-wheat-holds-weather-premium
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Argentina's crop losses tighten soymeal and feed grain supply, lifting feed wheat and corn values. Logistics delays in Russia and Canada add further support to nearby prices.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2024-05-14 | [Weather Developments Generate Higher Wheat Price](https://feedsoft.ai/events/10910-weather-developments-generate-higher-wheat-price.md) | +18.9% | +7.8% |
| WHEAT | 2018-11-08 | [Ag Weather Forum](https://feedsoft.ai/events/61971-ag-weather-forum.md) | -0.6% | +1.1% |
| WHEAT | 2018-04-25 | [Wheat hits two-week high on dry US weather](https://feedsoft.ai/events/65543-wheat-hits-two-week-high-on-dry-us-weather.md) | +3.5% | +2.9% |
| WHEAT | 2017-05-03 | [Weather market dominant once again  - 03 May 2017 Premium](https://feedsoft.ai/events/6140-weather-market-dominant-once-again-03-may-2017-premium.md) | -2.1% | -1.7% |
| WHEAT | 2018-05-29 | [Wheat prices are rising because of the hot and dry weather](https://feedsoft.ai/events/65065-wheat-prices-are-rising-because-of-the-hot-and-dry-weather.md) | -0.9% | -2.8% |
| SBM | 2018-01-10 | [Top five weather risks for grain markets in 2018 - 10 January 2018 Premium](https://feedsoft.ai/events/66931-top-five-weather-risks-for-grain-markets-in-2018-10-january-2018-premium.md) | +3.1% | +6.6% |
| SBM | 2022-05-23 | [Weather boosts rally price targets](https://feedsoft.ai/events/13361-weather-boosts-rally-price-targets.md) | +1.0% | +1.5% |
| SBM | 2016-05-09 | [Weather hits the Soya harvest](https://feedsoft.ai/events/9922-weather-hits-the-soya-harvest.md) | +5.8% | +20.7% |

## Sources

- agriculture.com: https://www.agriculture.com/markets/analysis/wheat-holds-weather-premium

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.