# Wheat climbs 1% on global supply worries, soybeans rebound - Markets - Business Recorder

> Chicago wheat futures rose almost 1% on August 30, rebounding from the prior session's losses on concerns over production downgrades in key exporting countries. Sovecon cut its forecast for Russia's 2021/22 wheat exports by 3.2 million tonnes to 33.9 million tonnes. Soybeans and corn also gained modestly.

- Date: 2021-08-30 · published 2021-08-30T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/45614-wheat-climbs-1-on-global-supply-worries-soybeans-rebound-markets-business
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Lower Northern Hemisphere output and reduced Russian export availability tighten global wheat supplies and support feed-grain alternatives. Buyers should expect firm wheat and corn values while farmer selling stays light.

## Read by commodity

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

## Sources

- brecorder.com: https://www.brecorder.com/news/40116665

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