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Unusually cold weather in Russia from May 11 to 20 ran 3 to 5 degrees Celsius below the 30-year average in central and southern regions. Wheat and barley ripening has been delayed, pushing back the harvest start by about 10 to 12 days for wheat and 5 to 6 days for barley.
A later Black Sea harvest reduces near-term supply of cheaper new-crop wheat and barley and may make Saudi barley shipments harder to source from the region. This supports nearby wheat and barley prices.
esmmagazine.comSteve Wynne-JonesMay 24, 2017After 1,072 past bullish weather events, WHEAT moved a median +0.2% over 5 sessions (55% higher; middle half -1.4% to +2.3%), and +0.3% over 20.
Not enough comparable past events yet for a historical read.
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.
