# Chicago wheat rises on global crop concern - Markets - Business Recorder

> Chicago wheat rose 1.8% on crop concerns after Coceral cut its EU and UK grain crop estimate to 280.3 million tons from 296 million. Soybeans rose on dry weather delaying Brazilian planting, and corn also gained, while cheap Russian export wheat capped rallies.

- Date: 2024-09-23 · published 2024-09-23T12:00:00.000Z
- Category: weather · region Global · magnitude low
- Page: https://feedsoft.ai/events/5608-chicago-wheat-rises-on-global-crop-concern-markets-business-recorder
- 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

Smaller European crops and slow Brazilian soybean planting support grain prices, but low Russian export offers limit how far wheat can climb.

## Read by commodity

- 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 | Coceral's cut to the EU/UK grain crop estimate lifted Chicago wheat 1.8% on supply concerns. |
| WHEAT | 2024-09-23 | 1 | +7.3% | 6.1 | Same-day report of Chicago wheat rising on Coceral's cut to EU/UK crop estimates, a supply shock that fed buying, though the 1.8% gain is smaller than the 7.26% move and cheap Russian wheat capped rallies. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2021-07-30 | [IGC trims forecast for global wheat crop - Markets - Business Recorder](https://feedsoft.ai/events/46024-igc-trims-forecast-for-global-wheat-crop-markets-business-recorder.md) | +1.6% | +2.4% |
| WHEAT | 2024-04-23 | [Chicago wheat futures extend gains - Markets - Business Recorder](https://feedsoft.ai/events/12141-chicago-wheat-futures-extend-gains-markets-business-recorder.md) | -1.3% | +22.1% |
| WHEAT | 2024-08-29 | [EU wheat rises on poor French, German crop outlook, weaker euro - Markets - Business Recorder](https://feedsoft.ai/events/28711-eu-wheat-rises-on-poor-french-german-crop-outlook-weaker-euro-markets-business.md) | +4.6% | +15.4% |
| WHEAT | 2021-04-09 | [CBOT wheat futures rise on European cold snap - Markets - Business Recorder](https://feedsoft.ai/events/47638-cbot-wheat-futures-rise-on-european-cold-snap-markets-business-recorder.md) | -3.6% | -1.4% |
| WHEAT | 2024-03-25 | [Wheat hits 3-week high on French crop worries - Markets - Business Recorder](https://feedsoft.ai/events/31240-wheat-hits-3-week-high-on-french-crop-worries-markets-business-recorder.md) | -0.6% | +1.9% |
| SOY | 2024-05-17 | [Wheat rises on Russian crop woes, but US production outlook limits gains - Markets - Business Recorder](https://feedsoft.ai/events/4593-wheat-rises-on-russian-crop-woes-but-us-production-outlook-limits-gains-markets.md) | +1.9% | -3.0% |
| SOY | 2022-03-18 | [Soybeans rise on firm vegoils, Argentina crop concerns; corn steady - Markets - Business Recorder](https://feedsoft.ai/events/42293-soybeans-rise-on-firm-vegoils-argentina-crop-concerns-corn-steady-markets.md) | +1.9% | +0.8% |
| SOY | 2021-02-16 | [US MIDDAY: Wheat climbs - Markets - Business Recorder](https://feedsoft.ai/events/9256-us-midday-wheat-climbs-markets-business-recorder.md) | +0.9% | +3.5% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40323632

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