# Wheat rises 1%, up for 2nd session on bargain-buying, China crop woes - Markets - Business Recorder

> Chicago wheat rose about 1% on June 1 after hitting its lowest since December 2020 the prior session, helped by bargain buying and rain damage to China's wheat crop. Soybeans and corn also gained on forecast dryness for the US Midwest. Ukraine and Russia grain corridor talks were also mentioned.

- Date: 2023-06-01 · published 2023-06-01T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/35516-wheat-rises-1-up-for-2nd-session-on-bargain-buying-china-crop-woes-markets
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Rain damage to Chinese wheat at harvest could increase import demand from a large buyer, while Midwest dryness supports corn and soy. The rebound is a routine move rather than a major supply shift.

## Read by commodity

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

## Sources

- brecorder.com: https://www.brecorder.com/news/40245398

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