# Morning Market Review for March 17, 2021 - Beachner Grain

> Wheat fell 4-6 cents as high global output and easing Russian export restrictions weighed on prices. China booked its largest daily flash sale of U.S. corn since January, at 82.7 million bushels. Soybean oil fell $0.03/lb and soybean meal fell $4.30/ton, and ethanol output and stocks were reported.

- Date: 2021-03-17 · published 2021-03-17T12:00:00.000Z
- Category: policy · region Black Sea · magnitude medium
- Page: https://feedsoft.ai/events/5122-morning-market-review-for-march-17-2021-beachner-grain
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Relaxed Russian export limits add wheat supply to a market already well stocked, which pressures wheat prices. Chinese corn buying gives some support to corn, and weaker soy products reflect the broader ag selloff.

## Read by commodity

- SBM: bearish ▼
- SBO: bearish ▼
- CORN: neutral
- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2021-03-22 | 1 | +11.9% | 6.1 | China's record flash sale of 82.7 million bushels of U.S. corn added strong demand-side support and momentum ahead of the move. |
| CORN | 2021-03-26 | 5 | +10.7% | 3.3 | China's largest daily flash sale of US corn since January added to export demand momentum. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2025-01-21 | [Daily Market Wire 24 January 2025 - Grain Central](https://feedsoft.ai/events/6892-daily-market-wire-24-january-2025-grain-central.md) | +3.4% | +5.7% |
| WHEAT | 2022-12-15 | [India: Wheat exports ban review likely in March](https://feedsoft.ai/events/38208-india-wheat-exports-ban-review-likely-in-march.md) | -1.1% | -3.8% |
| WHEAT | 2017-12-07 | [Corn, rice self-sufficiency campaign distorting Indonesia’s market \| World-grain.com \| December 07, 2017 15:36 \| World Grain](https://feedsoft.ai/events/67533-corn-rice-self-sufficiency-campaign-distorting-indonesia-s-market-world-grain.md) | -4.0% | -1.3% |
| WHEAT | 2019-08-21 | [Lacking US biofuel demand undermining grain prices: Grain Market Daily \| AHDB](https://feedsoft.ai/events/57687-lacking-us-biofuel-demand-undermining-grain-prices-grain-market-daily-ahdb.md) | +2.3% | +0.4% |
| WHEAT | 2022-12-13 | [Wheat exports ban review likely in March - Economy News \| The Financial Express](https://feedsoft.ai/events/38201-wheat-exports-ban-review-likely-in-march-economy-news-the-financial-express.md) | -1.7% | -4.2% |
| KWHEAT | 2026-04-06 | [Focus on Argentina \| World Grain](https://feedsoft.ai/events/13798-focus-on-argentina-world-grain.md) | -4.1% | +10.8% |
| KWHEAT | 2021-03-29 | [Black Sea wheat sharply lower on new crop prospects, Russian farmers hope that the tax will be lifted in 2021 - The Sizov Report blog](https://feedsoft.ai/events/48192-black-sea-wheat-sharply-lower-on-new-crop-prospects-russian-farmers-hope-that.md) | -0.9% | +23.5% |
| KWHEAT | 2025-11-19 | [Exclusive: Ukraine will not limit wheat exports in 2025/26, says deputy minister \| Reuters](https://feedsoft.ai/events/21995-exclusive-ukraine-will-not-limit-wheat-exports-in-2025-26-says-deputy-minister.md) | -2.5% | -3.5% |

## Sources

- beachnergrain.com: https://www.beachnergrain.com/story-morning-market-review-march-17-2021-22-211948

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