# U.S. grains: Wheat futures flat as damage assessed - Grainews

> U.S. wheat futures were flat on May 3, 2017 while traders waited for an assessment of crop damage from a weekend snowstorm in Kansas. Scouts on the Wheat Quality Council tour reported flattened and broken hard red winter wheat in the hardest-hit fields, and agronomists said the full extent of damage could take two weeks to determine. Corn and soybeans rose on concerns that Midwest heavy rain would force replanting.

- Date: 2017-05-03 · published 2017-05-03T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/7002-u-s-grains-wheat-futures-flat-as-damage-assessed-grainews
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Damage to Kansas hard red winter wheat tightens near-term supply and supports K.C. wheat prices until yield losses are measured. Replanting delays from Midwest rain can also reduce corn and soybean acreage or yield, which supports those prices.

## Read by commodity

- CORN: bullish ▲
- KWHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| KWHEAT | 2017-06-28 | [U.S. grains: Spring wheat futures top US$7 on weather worries - Grainews](https://feedsoft.ai/events/70514-u-s-grains-spring-wheat-futures-top-us-7-on-weather-worries-grainews.md) | +20.6% | +4.0% |
| KWHEAT | 2018-03-02 | [Wheat futures surge - Grain Central](https://feedsoft.ai/events/12430-wheat-futures-surge-grain-central.md) | -2.1% | -12.0% |
| KWHEAT | 2018-01-30 | [U.S. grains: Winter wheat jumps as crop conditions drop - Grainews](https://feedsoft.ai/events/67013-u-s-grains-winter-wheat-jumps-as-crop-conditions-drop-grainews.md) | +1.9% | +7.9% |
| KWHEAT | 2024-04-22 | [U.S. grains: Wheat futures rally as weather risks rattle markets - AgCanada](https://feedsoft.ai/events/12140-u-s-grains-wheat-futures-rally-as-weather-risks-rattle-markets-agcanada.md) | +11.1% | +13.8% |
| KWHEAT | 2018-03-01 | [U.S. grains: Wheat, soybean futures rally - Manitoba Co-operator](https://feedsoft.ai/events/12431-u-s-grains-wheat-soybean-futures-rally-manitoba-co-operator.md) | +2.5% | -9.3% |
| CORN | 2019-09-23 | [U.S. grains: Minneapolis, K.C. wheat futures rise - Grainews](https://feedsoft.ai/events/57121-u-s-grains-minneapolis-k-c-wheat-futures-rise-grainews.md) | +1.9% | +4.1% |
| CORN | 2021-03-06 | [U.S. grains: Soy futures rally on dry Argentina weather - Grainews](https://feedsoft.ai/events/8633-u-s-grains-soy-futures-rally-on-dry-argentina-weather-grainews.md) | +2.7% | +3.0% |
| CORN | 2018-01-30 | [U.S. grains: Winter wheat jumps as crop conditions drop - Grainews](https://feedsoft.ai/events/67013-u-s-grains-winter-wheat-jumps-as-crop-conditions-drop-grainews.md) | -0.0% | +1.6% |

## Sources

- grainews.ca: https://www.grainews.ca/daily/u-s-grains-wheat-futures-flat-as-damage-assessed/

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