# US grain markets bumpy amid global challenges | World Grain

> World Grain reports USDA's August crop report raised winter wheat and cut spring wheat, while corn and soybean output was lowered from July. Since mid-July, Russia's exit from the Black Sea grain deal and port attacks drove wheat futures up briefly before they fell about 20% in Kansas City, Minneapolis and Chicago.

- Date: 2023-08-23 · published 2023-08-23T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/34625-us-grain-markets-bumpy-amid-global-challenges-world-grain
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Sharp wheat futures declines reflect fading geopolitical risk premium and ample supply, reducing wheat's feed cost advantage over corn over time.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2020-03-02 | [Coronavirus weighs on global grain markets  \| Queensland Country Life \| QLD](https://feedsoft.ai/events/12540-coronavirus-weighs-on-global-grain-markets-queensland-country-life-qld.md) | -0.1% | -4.3% |
| WHEAT | 2026-10-28 | [Wheat prices fall as global supply weighs on markets - Farmers Weekly](https://feedsoft.ai/events/443-wheat-prices-fall-as-global-supply-weighs-on-markets-farmers-weekly.md) | +0.2% | — |
| WHEAT | 2026-06-17 | [Wheat markets shrug off US-Iran deal as freight, harvests take focus \| S&P Global](https://feedsoft.ai/events/16848-wheat-markets-shrug-off-us-iran-deal-as-freight-harvests-take-focus-s-and-p.md) | -1.6% | -1.9% |
| WHEAT | 2022-10-11 | [CBOT Wheat Futures Slide Amid Worries Over Black Sea Grain Trade](https://feedsoft.ai/events/5086-cbot-wheat-futures-slide-amid-worries-over-black-sea-grain-trade.md) | +3.1% | +4.3% |
| WHEAT | 2022-02-27 | [Ukraine crisis: Agri commodities prices plunge in global markets as supply fears recede - The HinduBusinessLine](https://feedsoft.ai/events/8528-ukraine-crisis-agri-commodities-prices-plunge-in-global-markets-as-supply-fears.md) | +12.1% | +26.0% |
| SOY | 2022-04-05 | [The Russia-Ukraine War’s Impact on Global Fertilizer Markets - Rabobank](https://feedsoft.ai/events/41765-the-russia-ukraine-war-s-impact-on-global-fertilizer-markets-rabobank.md) | +3.3% | +3.5% |
| SOY | 2026-09-26 | [Argentina set for near-record farm dollar windfall as global supply shocks lift grain exports - Markets - Business Recorder](https://feedsoft.ai/events/13778-argentina-set-for-near-record-farm-dollar-windfall-as-global-supply-shocks-lift.md) | -3.1% | -5.4% |
| SOY | 2026-07-16 | [Wheat Soars as Black Sea Conflict Reshapes the Grain Markets \| Agriculture of America](https://feedsoft.ai/events/9562-wheat-soars-as-black-sea-conflict-reshapes-the-grain-markets-agriculture-of.md) | +2.6% | -3.1% |

## Sources

- world-grain.com: https://www.world-grain.com/articles/18939-us-grain-markets-bumpy-amid-global-challenges

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