# Rally continues for soybeans, corn, wheat - Brownfield Ag News

> Soybeans, corn and wheat rallied, with soybeans and corn sharply higher on commercial and technical buying. Ukraine capped corn exports at 24 million tonnes through June, and Russia introduced a corn export tariff from March 1. Brazilian harvest delays and South American weather concerns added support.

- Date: 2021-01-26 · published 2021-01-26T12:00:00.000Z
- Category: trade · region Global · magnitude high
- Page: https://feedsoft.ai/events/4062-rally-continues-for-soybeans-corn-wheat-brownfield-ag-news
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Export restrictions from Ukraine and Russia tighten global corn supply and reduce competition for US and South American exports, supporting prices. Weather risk in South America adds further upside pressure.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2021-01-29 | 5 | +8.0% | 2.8 | Ukraine's corn export cap, Russia's new corn export tariff and Brazilian harvest delays cut expected export supply and raised support for corn, which fits the rally in the week to Jan 29. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2020-09-19 | [Soybeans, corn, wheat extend demand driven rally - Brownfield Ag News](https://feedsoft.ai/events/12154-soybeans-corn-wheat-extend-demand-driven-rally-brownfield-ag-news.md) | -2.4% | +3.4% |
| CORN | 2016-11-08 | [Corn, soybeans, wheat up ahead of USDA numbers - Brownfield Ag News](https://feedsoft.ai/events/8305-corn-soybeans-wheat-up-ahead-of-usda-numbers-brownfield-ag-news.md) | -4.7% | -2.5% |
| CORN | 2017-10-05 | [Good week for corn, soybean export sales - Brownfield Ag News](https://feedsoft.ai/events/68550-good-week-for-corn-soybean-export-sales-brownfield-ag-news.md) | -0.7% | -1.0% |
| CORN | 2016-12-06 | [New export sales support soybeans, corn - Brownfield Ag News](https://feedsoft.ai/events/6328-new-export-sales-support-soybeans-corn-brownfield-ag-news.md) | +1.5% | -0.5% |
| CORN | 2020-08-14 | [Soybeans, corn post solid weekly gains - Brownfield Ag News](https://feedsoft.ai/events/10682-soybeans-corn-post-solid-weekly-gains-brownfield-ag-news.md) | +0.7% | +7.2% |
| SOY | 2020-09-19 | [Soybeans, corn, wheat extend demand driven rally - Brownfield Ag News](https://feedsoft.ai/events/12154-soybeans-corn-wheat-extend-demand-driven-rally-brownfield-ag-news.md) | -3.9% | +0.6% |
| SOY | 2016-11-08 | [Corn, soybeans, wheat up ahead of USDA numbers - Brownfield Ag News](https://feedsoft.ai/events/8305-corn-soybeans-wheat-up-ahead-of-usda-numbers-brownfield-ag-news.md) | +0.0% | +6.0% |
| SOY | 2017-10-05 | [Good week for corn, soybean export sales - Brownfield Ag News](https://feedsoft.ai/events/68550-good-week-for-corn-soybean-export-sales-brownfield-ag-news.md) | +0.7% | +2.4% |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/rally-continues-for-soybeans-corn-wheat/

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