# Wheat up on war worries; corn, soy also firm despite recession fears | Financial Post

> CBOT December wheat rose about 3.6% to $9.03 per bushel on fears of escalating conflict between Russia and Ukraine and dry conditions in the US Plains. Corn and soybeans also closed slightly higher despite weaker vegetable oil markets. Argentina's wheat output was projected to fall about 22% due to drought.

- Date: 2022-09-28 · published 2022-09-28T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/39646-wheat-up-on-war-worries-corn-soy-also-firm-despite-recession-fears-financial
- 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

Geopolitical risk to Black Sea exports and drought in key exporting regions lift wheat prices, which feeds into the cost of wheat-based feed rations.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-02-28 | [Wheat jumps most in a decade; corn, soybeans firm on supply woes \| Financial Post](https://feedsoft.ai/events/9673-wheat-jumps-most-in-a-decade-corn-soybeans-firm-on-supply-woes-financial-post.md) | +12.1% | +26.0% |
| WHEAT | 2022-03-21 | [U.S. wheat, corn, soy rally on concerns about Ukraine-Russia fighting \| Financial Post](https://feedsoft.ai/events/6241-u-s-wheat-corn-soy-rally-on-concerns-about-ukraine-russia-fighting-financial.md) | +15.8% | +5.9% |
| WHEAT | 2022-10-31 | [Wheat up 6% after Russia quits Black Sea pact; corn, soy firm \| Reuters](https://feedsoft.ai/events/39156-wheat-up-6-after-russia-quits-black-sea-pact-corn-soy-firm-reuters.md) | -5.6% | +2.4% |
| WHEAT | 2019-09-16 | [Corn firms as oil rally offsets good crop weather in U.S. Midwest \| Financial Post](https://feedsoft.ai/events/9438-corn-firms-as-oil-rally-offsets-good-crop-weather-in-u-s-midwest-financial-post.md) | +2.1% | +1.2% |
| WHEAT | 2023-07-24 | [Grain prices heat up on weather, war worries](https://feedsoft.ai/events/11939-grain-prices-heat-up-on-weather-war-worries.md) | -0.4% | -0.1% |
| CORN | 2022-02-28 | [Wheat jumps most in a decade; corn, soybeans firm on supply woes \| Financial Post](https://feedsoft.ai/events/9673-wheat-jumps-most-in-a-decade-corn-soybeans-firm-on-supply-woes-financial-post.md) | +10.4% | +14.4% |
| CORN | 2022-03-21 | [U.S. wheat, corn, soy rally on concerns about Ukraine-Russia fighting \| Financial Post](https://feedsoft.ai/events/6241-u-s-wheat-corn-soy-rally-on-concerns-about-ukraine-russia-fighting-financial.md) | +1.5% | +11.2% |
| CORN | 2022-10-31 | [Wheat up 6% after Russia quits Black Sea pact; corn, soy firm \| Reuters](https://feedsoft.ai/events/39156-wheat-up-6-after-russia-quits-black-sea-pact-corn-soy-firm-reuters.md) | -2.2% | -3.8% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/wheat-up-on-war-worries-corn-soy-also-firm-despite-recession-fears-2

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