# Wheat nears 3-month low on supply prospects; soy, corn also decline - Markets - Business Recorder

> CBOT wheat fell to its lowest level of 2021 as improved production prospects in the US Plains and Russia, plus a firmer dollar, pressured prices. Corn and soybeans also declined, and soybean oil fell its daily limit after retreating from a contract high.

- Date: 2021-03-25 · published 2021-03-25T12:00:00.000Z
- Category: weather · region Global · magnitude medium
- Page: https://feedsoft.ai/events/12661-wheat-nears-3-month-low-on-supply-prospects-soy-corn-also-decline-markets
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Rising Russian crop forecasts and rain in the US Plains increase wheat supply, making wheat a cheaper feed substitute for corn and pulling corn lower. The stronger dollar further weakens US export competitiveness.

## Read by commodity

- DXY: bullish ▲
- SBO: bearish ▼
- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBO | 2021-03-29 | 5 | -8.3% | -3.0 | Reports soybean oil falling its daily limit after retreating from a contract high amid broad grain weakness and a firmer dollar. |
| SBO | 2021-03-29 | 1 | -5.2% | -4.0 | Soyoil fell its daily limit after retreating from a contract high amid broad grain weakness and a firmer dollar, part of the same downswing. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2023-04-25 | [Wheat hovers near 21-month low as weather, exports weigh - Markets - Business Recorder](https://feedsoft.ai/events/10361-wheat-hovers-near-21-month-low-as-weather-exports-weigh-markets-business.md) | +0.0% | -3.1% |
| WHEAT | 2023-02-21 | [Corn near 1-week high on Argentina supply woes, soybeans firm - Markets - Business Recorder](https://feedsoft.ai/events/37347-corn-near-1-week-high-on-argentina-supply-woes-soybeans-firm-markets-business.md) | -3.7% | -8.4% |
| WHEAT | 2025-05-18 | [Chicago wheat stumbles on improved harvest prospects - Markets - Business Recorder](https://feedsoft.ai/events/24709-chicago-wheat-stumbles-on-improved-harvest-prospects-markets-business-recorder.md) | -4.6% | -3.4% |
| WHEAT | 2021-08-10 | [US corn and soybean futures decline - Markets - Business Recorder](https://feedsoft.ai/events/12610-us-corn-and-soybean-futures-decline-markets-business-recorder.md) | +3.4% | +5.1% |
| WHEAT | 2026-06-07 | [Corn, soybeans futures decline on US weather, dollar strength - Markets - Business Recorder](https://feedsoft.ai/events/10646-corn-soybeans-futures-decline-on-us-weather-dollar-strength-markets-business.md) | -0.4% | +1.3% |
| KWHEAT | 2023-04-25 | [Wheat hovers near 21-month low as weather, exports weigh - Markets - Business Recorder](https://feedsoft.ai/events/10361-wheat-hovers-near-21-month-low-as-weather-exports-weigh-markets-business.md) | -5.4% | -0.9% |
| KWHEAT | 2025-05-18 | [Chicago wheat stumbles on improved harvest prospects - Markets - Business Recorder](https://feedsoft.ai/events/24709-chicago-wheat-stumbles-on-improved-harvest-prospects-markets-business-recorder.md) | +4.3% | +3.8% |
| KWHEAT | 2021-03-12 | [Wheat flat; set for second weekly drop as US weather improves - Markets - Business Recorder](https://feedsoft.ai/events/5121-wheat-flat-set-for-second-weekly-drop-as-us-weather-improves-markets-business.md) | -1.5% | -1.6% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40077721

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