03 Buell KB9S Speedometer Bouncing Erratic

I rode my Buell XB out to Sturgis with no issues. The bike was parked the first night and got rained on pretty hard. About two minutes into a ride the next day the speedometer started bouncing around erratically. The issue has persisted since. The odometer and the trips are also affected, so I feel like it's something to do with the sensor or whatever converts the signal to the needle. The trouble shooting guide suggests to clean the connection and check the wiring which resulted in me still having the problem. The next step is to check it with a speedometer tester, but I was wondering if anyone else has had a similar issue. Is there another connection to check besides the sensor's and the gauge's? Could the rain storm just be a coincidence and the sensor went bad?

By the way, while out there I believe Keegan and Colby from Omaha stopped me just to talk about Buells. Definitely cool chatting with other Buell enthusiast.

I'll guess that the tach needle is ok while the speedo is bouncing.

If that's true, check the connection at the speedo sensor (or bad sensor). It's the black plug in the engine case, just above the output sprocket. A bad connection there (or in the harness) will cause the speedo needle to drop and odometer not to read at the same time.

I would spray some WD40 or similar on it to get rid of any remaining moisture first, are there any cracks in the instrument casing where water may have got in? when i was a despatch rider it cured a lot of strange little problems! a bit of a long shot maybe but i always start with the easy stuff!

I've already cleaned the speedo connector and the connection into the instrument panel with contact cleaner that should have removed any moisture. I also cleaned off the sensor itself. This did not solve the issue. There doesn't appear to be any cracks in the instrument panel. I think if there was, I'd see moisture under the glass after washing it. Does anyone know if there is a connection upstream between the speedo connection and the instrument panel?

You may check the speed sensor wire where it connects at the ECM. I believe its the pink wire (for the tach) but you may check the manual. My 03 XB9SL would have the tach randomly jump between 3-4K but the bike never ran any diff. Found out it would only happen when I shifted my weight which would cause the seat to push down on that wire and affect the instrument panel. It never affected the speedo or the odometer, so you may have to check other wires but it could be similar.