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Local wheat prices in Idaho jumped 32 cents in one day as heavy rain and drought in Europe and the Black Sea lifted Paris and US futures. Paris December wheat traded near record levels, and Russian and Ukrainian output expectations were cut.
Reduced European, Black Sea and Russian output tightens export supplies, supporting wheat prices in both world and local markets.
aginfo.netAug 2, 2018After 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.
