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Severe cold across the US hard red and soft red winter wheat belts may have damaged some wheat without snow cover, with about a quarter of the HRW belt affected per one meteorologist. Attention is shifting to dry conditions as the bigger threat to the crop.
Winterkill risk and drought concerns in the Plains could reduce HRW output, a supportive factor for KC wheat prices, though damage assessments remain uncertain.
uswheat.orgJan 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 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.
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.
