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U.S. wheat prices edged up on concerns that dry weather could hurt crops. Spring wheat condition ratings slipped to 40 percent good-to-excellent, down from 41 percent a week earlier and below the 41 percent the market expected.
Dry weather threatens spring wheat yields and tightens the supply outlook, which supports wheat prices and raises feed-wheat costs for buyers.
reuters.comJun 28, 2017After 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.
