◂ Event Timeline

Feb 16, 2021WEATHERUS

Wheat at one-week high as freezing US weather in focus - Markets

CBOT wheat rose 2% to a one-week high on February 16, 2021, as frigid US temperatures raised concerns about winter crop damage in areas with little snow cover. Soybeans gained for a third session on tight US supplies and Brazilian harvest delays, while corn edged higher.

WHY IT MATTERS

Winter kill risk in US wheat areas supports wheat prices, and tight US soybean supplies lift soybean meal costs for feed buyers.

AFFECTSWheat (SRW)▲Corn▲Soybeans▲Wheat (HRW)▲

2 SOURCES
brecorder.comReutersFeb 16, 2021
feedandgrain.comFeb 16, 2021

Price reaction & history

Wheat (SRW)▲bullishSO FAR1d +0.6%5d +1.3%20d +0.2%

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.

Mar 25, 2024Wheat hits 3-week high on French crop worries - Markets - Business Recorder-0.6%
Oct 26, 2021Paris wheat at highest since 2008 as tight supply in focus - Markets - Business Recorder+10.4%
Apr 23, 2021EU wheat, rapeseed at fresh highs in grain surge - Markets - Business Recorder+3.2%
Jul 28, 2022Soybeans jump over 1% to two-week high as US crop faces heat - Markets - Business Recorder+4.6%
Feb 16, 2021US MIDDAY: Wheat climbs - Markets - Business Recorder+1.3%

Corn▲bullishSO FAR1d +1.5%5d +1.5%20d -3.8%

After 1,465 past bullish weather events, Corn moved a median +0.2% over 5 sessions (54% higher; middle half -1.4% to +1.9%), and +0.9% over 20.

Oct 26, 2021Paris wheat at highest since 2008 as tight supply in focus - Markets - Business Recorder+8.0%
Apr 23, 2021EU wheat, rapeseed at fresh highs in grain surge - Markets - Business Recorder+10.5%
Jul 28, 2022Soybeans jump over 1% to two-week high as US crop faces heat - Markets - Business Recorder+2.8%
Aug 28, 2023Soybeans at 1-month high, corn firm as hot, dry weather hits US crops - Markets - Business Recorder-1.3%
Feb 16, 2021US MIDDAY: Wheat climbs - Markets - Business Recorder+1.5%

Soybeans▲bullishSO FAR1d +0.9%5d +0.9%20d +3.5%

After 1,079 past bullish weather events, Soybeans moved a median +0.3% over 5 sessions (54% higher; middle half -1.4% to +2.0%), and +0.9% over 20.

Apr 23, 2021EU wheat, rapeseed at fresh highs in grain surge - Markets - Business Recorder+0.6%
Jul 28, 2022Soybeans jump over 1% to two-week high as US crop faces heat - Markets - Business Recorder-1.3%
Sep 28, 2024Soy futures soar on US weather woes - Markets - Business Recorder-2.6%
Aug 28, 2023Soybeans at 1-month high, corn firm as hot, dry weather hits US crops - Markets - Business Recorder-1.8%
Feb 16, 2021US MIDDAY: Wheat climbs - Markets - Business Recorder+0.9%

Wheat (HRW)▲bullishSO FAR1d +3.4%5d +4.5%20d -1.6%

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.

Mar 25, 2024Wheat hits 3-week high on French crop worries - Markets - Business Recorder-2.5%
Feb 16, 2021US MIDDAY: Wheat climbs - Markets - Business Recorder+4.5%
Jul 31, 2021Wheat set for second monthly gain as drought cuts US yields - Markets - Business Recorder+4.8%
Jul 30, 2021IGC trims forecast for global wheat crop - Markets - Business Recorder+2.5%
Jun 5, 2020Euronext wheat climbs with rally in Chicago - Markets - Business Recorder-5.3%

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.

Linked price moves

Wheat (SRW)+5.5%1 period to Feb 15, 20213.7σ
Reports CBOT wheat rising to a one-week high as record US cold raised winter-kill concerns, which is a supply-risk mechanism; the dated move is Feb 16 rather than Feb 15, so the link to the 1-day move ending Feb 15 is uncertain.

Wheat (SRW) WHEAT · GP ▸

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Corn CORN · GP ▸

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