# Bullish macro-economic environment and hot U.S. finishing weather boost CBOT prices – ProAgri Media

> CBOT corn rebounded about 12% to three-month highs in mid-September from four-year lows, while CBOT wheat rose 11-15% month-on-month. Soybeans gained about 6% on hot, dry U.S. weather that raised yield concerns, and EU and Black Sea dryness also supported wheat.

- Date: 2024-09-20 · published 2024-09-20T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/5605-bullish-macro-economic-environment-and-hot-u-s-finishing-weather-boost-cbot
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Dry U.S. August weather and European and Black Sea crop losses lift feed grain and oilseed prices, and a weaker dollar adds to the upward pressure.

## Read by commodity

- DXY: bearish ▼
- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2024-09-24 | 5 | +11.7% | 2.8 | It documents the 11-15% monthly CBOT wheat rally, with macro support and EU/Black Sea dryness underpinning prices. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2022-02-25 | [Fertilizer Prices Keep Rising and the Russia-Ukraine Conflict Could Make it Worse \| College of Agricultural and Environmental Sciences](https://feedsoft.ai/events/43025-fertilizer-prices-keep-rising-and-the-russia-ukraine-conflict-could-make-it.md) | +6.6% | +10.3% |
| CORN | 2021-05-24 | [AgriMarketing.com - Purdue Economist Issues Report "Impact Of Higher Corn Prices On Cattle Finishing Net Returns"](https://feedsoft.ai/events/4964-agrimarketing-com-purdue-economist-issues-report-impact-of-higher-corn-prices.md) | -0.3% | +2.2% |
| CORN | 2026-07-21 | [Protein inflation surges as costlier fodder pushes up milk, chicken prices - The Economic Times](https://feedsoft.ai/events/18511-protein-inflation-surges-as-costlier-fodder-pushes-up-milk-chicken-prices-the.md) | -0.2% | -1.4% |
| CORN | 2017-08-24 | [The Assay - Why the FED’S actions are bullish for commodity prices](https://feedsoft.ai/events/69364-the-assay-why-the-fed-s-actions-are-bullish-for-commodity-prices.md) | -3.1% | +0.7% |
| CORN | 2024-09-12 | [Brazilian market has firm prices and new area cut in the summer corn crop](https://feedsoft.ai/events/13549-brazilian-market-has-firm-prices-and-new-area-cut-in-the-summer-corn-crop.md) | +4.9% | +5.1% |
| WHEAT | 2021-03-10 | [Food prices rise globally as countries compete to replenish stockpiles, bad weather hits crops - ABC News](https://feedsoft.ai/events/8631-food-prices-rise-globally-as-countries-compete-to-replenish-stockpiles-bad.md) | -0.4% | -0.6% |
| WHEAT | 2016-11-22 | [A boost for harvest cash price \| NSW](https://feedsoft.ai/events/11922-a-boost-for-harvest-cash-price-nsw.md) | -2.8% | +0.7% |
| WHEAT | 2024-07-12 | [Global demand exceeds crop supply, says economist \| The Western Producer](https://feedsoft.ai/events/29600-global-demand-exceeds-crop-supply-says-economist-the-western-producer.md) | -3.9% | -2.9% |

## Sources

- proagrimedia.com: https://www.proagrimedia.com/news-events/bullish-macro-economic-environment-and-hot-u-s-finishing-weather-boost-cbot-prices/

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