# Dry weather pushes CBOT wheat, soybeans to multi-year peaks | Financial Post

> CBOT wheat and soybean futures rose to multi-year highs on dry weather in key US production areas, while corn reached an 8.5-month high. Brazilian planting is delayed by dry soils, and dryness in Argentina adds to crop stress.

- Date: 2020-10-06 · published 2020-10-06T12:00:00.000Z
- Category: weather · region US · magnitude medium
- Page: https://feedsoft.ai/events/11636-dry-weather-pushes-cbot-wheat-soybeans-to-multi-year-peaks-financial-post
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Delayed South American planting extends the US export season and supports demand for US supplies. Dry weather in key producing regions raises prices for soybeans, corn and wheat.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-03-08 | [Soybeans hit highest in almost 7 years on S.American crop worry \| Financial Post](https://feedsoft.ai/events/6559-soybeans-hit-highest-in-almost-7-years-on-s-american-crop-worry-financial-post.md) | -2.8% | -2.7% |
| WHEAT | 2022-07-29 | [Soybeans set for biggest weekly gain in 22 years as U.S. Midwest heats up \| Financial Post](https://feedsoft.ai/events/8740-soybeans-set-for-biggest-weekly-gain-in-22-years-as-u-s-midwest-heats-up.md) | +4.4% | -0.4% |
| WHEAT | 2021-04-22 | [Corn highest since 2013, soy tops $15 and wheat over $7 on supply fears \| Financial Post](https://feedsoft.ai/events/9788-corn-highest-since-2013-soy-tops-15-and-wheat-over-7-on-supply-fears-financial.md) | +3.9% | +0.9% |
| WHEAT | 2022-01-31 | [Soybeans, corn hit 7-month highs on South American crop worry \| Financial Post](https://feedsoft.ai/events/43158-soybeans-corn-hit-7-month-highs-on-south-american-crop-worry-financial-post.md) | -1.7% | +0.5% |
| WHEAT | 2021-07-28 | [Wheat climbs on signs of drought damage in northern U.S. Plains \| Financial Post](https://feedsoft.ai/events/46100-wheat-climbs-on-signs-of-drought-damage-in-northern-u-s-plains-financial-post.md) | +2.7% | +3.0% |
| SOY | 2020-11-20 | [Soybeans at four-year high as demand and weather keep market bubbling \| Financial Post](https://feedsoft.ai/events/50177-soybeans-at-four-year-high-as-demand-and-weather-keep-market-bubbling-financial.md) | +1.2% | +3.6% |
| SOY | 2022-07-27 | [Soybeans rally as U.S. forecast turns hot, dry \| Financial Post](https://feedsoft.ai/events/8742-soybeans-rally-as-u-s-forecast-turns-hot-dry-financial-post.md) | +2.4% | +2.2% |
| SOY | 2022-12-30 | [Soybeans set to gain for 4th year amid Argentina drought, China demand \| Financial Post](https://feedsoft.ai/events/38279-soybeans-set-to-gain-for-4th-year-amid-argentina-drought-china-demand-financial.md) | -0.5% | +1.8% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/dry-weather-pushes-cbot-wheat-soybeans-to-multi-year-peaks

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.