# U.S. grains: Wheat extends slide as Omicron worries mount - AgCanada

> Chicago wheat fell to a nearly three-week low on Nov. 30 as Omicron variant fears pushed investors to cut risk, with the most-active contract settling 35 cents lower at $7.87 1/4. Corn and soybeans also declined, with soybeans down for a fifth straight session as crude oil fell sharply.

- Date: 2021-12-01 · published 2021-12-01T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/43653-u-s-grains-wheat-extends-slide-as-omicron-worries-mount-agcanada
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Demand fears and a weaker crude market pressured feed grain prices, though improving export demand at lower prices could stabilize markets. Energy-linked weakness reduces support for biofuel-linked crops.

## Read by commodity

- SOY: bearish ▼
- WTI: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2017-10-27 | [U.S. grains: Wheat futures sink as dollar rallies - Grainews](https://feedsoft.ai/events/68496-u-s-grains-wheat-futures-sink-as-dollar-rallies-grainews.md) | -4.0% | -5.9% |
| WHEAT | 2017-05-18 | [U.S. grains: Soybeans fall as Brazilian currency dives - AgCanada](https://feedsoft.ai/events/7583-u-s-grains-soybeans-fall-as-brazilian-currency-dives-agcanada.md) | +3.0% | +1.9% |
| WHEAT | 2020-03-06 | [U.S. grains: Corn, soy, wheat slide with financial markets - Manitoba Co-operator](https://feedsoft.ai/events/7989-u-s-grains-corn-soy-wheat-slide-with-financial-markets-manitoba-co-operator.md) | +5.7% | -2.5% |
| WHEAT | 2020-06-05 | [GRAINS-Wheat falls as dollar bounces; soy firms on export business — Spot On Oklahoma](https://feedsoft.ai/events/9494-grains-wheat-falls-as-dollar-bounces-soy-firms-on-export-business-spot-on.md) | -0.7% | +0.6% |
| WHEAT | 2020-09-21 | [U.S. grains: Wheat, soy, corn fall sharply on fund selling - Grainews](https://feedsoft.ai/events/11765-u-s-grains-wheat-soy-corn-fall-sharply-on-fund-selling-grainews.md) | -1.9% | +7.9% |
| CORN | 2017-10-27 | [U.S. grains: Wheat futures sink as dollar rallies - Grainews](https://feedsoft.ai/events/68496-u-s-grains-wheat-futures-sink-as-dollar-rallies-grainews.md) | -0.2% | -5.4% |
| CORN | 2017-05-18 | [U.S. grains: Soybeans fall as Brazilian currency dives - AgCanada](https://feedsoft.ai/events/7583-u-s-grains-soybeans-fall-as-brazilian-currency-dives-agcanada.md) | +0.7% | +1.3% |
| CORN | 2020-03-06 | [U.S. grains: Corn, soy, wheat slide with financial markets - Manitoba Co-operator](https://feedsoft.ai/events/7989-u-s-grains-corn-soy-wheat-slide-with-financial-markets-manitoba-co-operator.md) | -1.0% | -2.3% |

## Sources

- agcanada.com: https://www.agcanada.com/daily/u-s-grains-wheat-extends-slide-as-omicron-worries-mount

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