# Grain deal: Wheat and corn prices rise as Russia withdraws | CNN Business

> Wheat futures on the Chicago Board of Trade jumped 5.5% to $8.74 a bushel on Monday, and corn rose 2.3% to $6.96. Palm oil futures in Malaysia also rose after Russia pulled out of the deal allowing Ukrainian grain exports through the Black Sea.

- Date: 2022-10-31 · published 2022-10-31T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude high
- Page: https://feedsoft.ai/events/39174-grain-deal-wheat-and-corn-prices-rise-as-russia-withdraws-cnn-business
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md)

## Why it matters

The withdrawal raises fears about Ukrainian grain and sunflower oil exports, supporting wheat, corn and vegetable oil prices. Feed buyers face higher replacement costs for grain-based and oilseed-based feed ingredients.

## Read by commodity

- CORN: bullish ▲
- WHEAT: bullish ▲
- PALMOIL: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| PALMOIL | 2022-10-31 | 1 | +8.5% | 4.4 | Confirms broad ag rally on Oct 31 with wheat and corn up and Malaysian palm higher after Russia's exit from the grain deal. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2023-11-22 | [Wheat prices jump as Russia targets Ukrainian grain supplies](https://feedsoft.ai/events/12252-wheat-prices-jump-as-russia-targets-ukrainian-grain-supplies.md) | -0.4% | -1.2% |
| WHEAT | 2023-07-17 | [Russia-Ukraine grain deal: What does it mean for global food prices](https://feedsoft.ai/events/35104-russia-ukraine-grain-deal-what-does-it-mean-for-global-food-prices.md) | +2.4% | +2.8% |
| WHEAT | 2022-09-07 | [Wheat Prices Surge as Putin Assails Ukraine Grain Deal - Bloomberg](https://feedsoft.ai/events/39649-wheat-prices-surge-as-putin-assails-ukraine-grain-deal-bloomberg.md) | +0.2% | +6.6% |
| WHEAT | 2026-07-16 | [Russia and Ukraine strike vessels in Black Sea, wheat prices jump](https://feedsoft.ai/events/7279-russia-and-ukraine-strike-vessels-in-black-sea-wheat-prices-jump.md) | +3.9% | +0.1% |
| WHEAT | 2023-12-19 | [Terrain \| Rally in U.S. Wheat Prices Will Depend on Russia](https://feedsoft.ai/events/32745-terrain-rally-in-u-s-wheat-prices-will-depend-on-russia.md) | +0.4% | +1.7% |
| CORN | 2023-07-17 | [Russia-Ukraine grain deal: What does it mean for global food prices](https://feedsoft.ai/events/35104-russia-ukraine-grain-deal-what-does-it-mean-for-global-food-prices.md) | -8.6% | -12.6% |
| CORN | 2026-07-16 | [Russia and Ukraine strike vessels in Black Sea, wheat prices jump](https://feedsoft.ai/events/7279-russia-and-ukraine-strike-vessels-in-black-sea-wheat-prices-jump.md) | +3.1% | +0.6% |
| CORN | 2023-06-16 | [Explainer: What is Russia's problem with the Black Sea grain deal?](https://feedsoft.ai/events/14383-explainer-what-is-russia-s-problem-with-the-black-sea-grain-deal.md) | +2.2% | -5.1% |

## Sources

- cnn.com: https://www.cnn.com/2022/10/31/business/wheat-prices-russia-ukraine-graine-deal

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