# Wheat bounces off 3 week low on Black Sea, Australian supply worries - Markets - Business Recorder

> Chicago wheat rebounded 0.5% to $8.64-1/4 a bushel on Monday after a three-week low, supported by Black Sea supply concerns and crop damage from heavy rain in Australia. Corn and soybeans slid for a second session.

- Date: 2022-10-17 · published 2022-10-17T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/39191-wheat-bounces-off-3-week-low-on-black-sea-australian-supply-worries-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

Wet weather in Australia threatens wheat protein and quality, while Black Sea uncertainty adds support, but weaker corn and soybean prices keep feed ingredient costs under pressure.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2022-10-17 | 1 | +2.7% | 3.1 | On Oct 17 corn and soybeans slid for a second session while wheat bounced, so it describes market action on the move date; the direction of corn is ambiguous versus the reported 2.71% move. |

## Sources

- brecorder.com: https://www.brecorder.com/news/40203516

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