Kansas is currently experiencing unexpected heavy rains, causing futures contract prices to tumble. A 30 cent drop to $4.7025 per bushel for May hard red winter wheat contracts at Monday’s close reached the maximum drop the Chicago Board of Trade (CBOT) would allow. When the 50-day moving average price falls below the 200-day moving average price, many technical traders see this as a bearish indication that futures prices will continue to decline. The Kansas wheat price did just that, and now speculation over a production rebound has dropped the futures price by 5.9 percent. This is the biggest drop for a most-active contract since 2013. Just last week, speculators increased their net long positions to 28,946 futures and options contracts hoping the dry conditions would continue to suppress wheat production. The recent rainfall is coming at the perfect time for wheat production to rebound. As the Kansas wheat crop surpasses expectations, Gro Intelligence can provide subscribers with the data and analytics necessary to foresee impacts on futures prices.