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Chicago July wheat closed up 16.75 cents at 5.20 1/4 on June 3 after heavy rain and flooding raised fears of crop damage. Kansas City and Chicago wheat both gained double digits, and July corn fell 2.75 cents.
Flood damage to US wheat and planting delays tighten expected wheat supplies, lifting feed wheat values. Traders expect volatility ahead of USDA crop reports.
aginfo.netJun 4, 2019After 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.
After 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.
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.
Reports Chicago July wheat closed up 16.75 cents on June 3 on heavy rain and flooding crop-damage fears, directly describing the day's move.
