# Wheat recovers from 2021 lows; Black Sea grain in focus - Markets - Business Recorder

> Chicago wheat futures recovered from their lowest since September 2021 on Wednesday, with the most-active contract up 0.35% at $7.08 a bushel. Gains were limited by hopes for a renewed Black Sea grain deal and cheap Russian exports, while Turkey's TMO bought about 790,000 tonnes in a tender. Corn and soybeans also rose.

- Date: 2023-03-01 · published 2023-03-01T12:00:00.000Z
- Category: trade · region Black Sea · magnitude low
- Page: https://feedsoft.ai/events/36896-wheat-recovers-from-2021-lows-black-sea-grain-in-focus-markets-business-recorder
- 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

Cheap Russian competition and Black Sea deal hopes pressure wheat, which substitutes for corn in feed rations. Dry weather risk in Australia from El Niño offers some support later in 2023.

## Read by commodity

- SOY: neutral
- CORN: neutral
- WHEAT: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2020-06-01 | [Ukraine seaport grain exports fall - Markets - Business Recorder](https://feedsoft.ai/events/52470-ukraine-seaport-grain-exports-fall-markets-business-recorder.md) | -1.2% | -1.0% |
| WHEAT | 2020-08-19 | [Ukraine's 2020/21 grain exports fall 19.8pc so far - Markets - Business Recorder](https://feedsoft.ai/events/51462-ukraine-s-2020-21-grain-exports-fall-19-8pc-so-far-markets-business-recorder.md) | +3.1% | +11.2% |
| WHEAT | 2025-10-25 | [Black Sea Grain Market Analysis](https://feedsoft.ai/events/14171-black-sea-grain-market-analysis.md) | +3.8% | -1.8% |
| WHEAT | 2018-03-02 | [Exclusive: Sierentz Global Merchants to start grain trade in May with Black Sea focus \| Reuters](https://feedsoft.ai/events/65858-exclusive-sierentz-global-merchants-to-start-grain-trade-in-may-with-black-sea.md) | +0.5% | -0.4% |
| WHEAT | 2026-09-29 | [US soybeans rise on bargain buying, China tariff decision limits gains - Markets - Business Recorder](https://feedsoft.ai/events/17521-us-soybeans-rise-on-bargain-buying-china-tariff-decision-limits-gains-markets.md) | -3.1% | +0.7% |
| CORN | 2020-06-01 | [Ukraine seaport grain exports fall - Markets - Business Recorder](https://feedsoft.ai/events/52470-ukraine-seaport-grain-exports-fall-markets-business-recorder.md) | +2.0% | -0.6% |
| CORN | 2022-11-29 | [Wheat recovers from 3-month low, Black Sea supplies limit gains](https://feedsoft.ai/events/12218-wheat-recovers-from-3-month-low-black-sea-supplies-limit-gains.md) | -3.8% | +0.6% |
| CORN | 2018-03-02 | [Exclusive: Sierentz Global Merchants to start grain trade in May with Black Sea focus \| Reuters](https://feedsoft.ai/events/65858-exclusive-sierentz-global-merchants-to-start-grain-trade-in-may-with-black-sea.md) | +1.2% | +3.0% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40229049

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