# Wheat steadies after one-year low, soybeans hold firm | Financial Post

> Chicago wheat rebounded 1.1% after hitting its lowest level since October 2021, as Russian exports and a Ukrainian shipping channel eased supply concerns. Pakistan bought 950,000 tonnes of wheat, and soybeans rose on signs of Chinese demand and Argentine drought concerns.

- Date: 2022-12-07 · published 2022-12-07T12:00:00.000Z
- Category: trade · region Global · magnitude medium
- Page: https://feedsoft.ai/events/6644-wheat-steadies-after-one-year-low-soybeans-hold-firm-financial-post
- 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

Expanding Russian and Australian supplies cap wheat prices, while Chinese buying and Argentine dryness provide support for soybeans and their meal.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2020-08-03 | [U.S. wheat futures fall on U.S. export woes; corn, soybeans firm \| Financial Post](https://feedsoft.ai/events/51658-u-s-wheat-futures-fall-on-u-s-export-woes-corn-soybeans-firm-financial-post.md) | -2.0% | +0.7% |
| WHEAT | 2018-06-13 | [U.S. grains: CBOT wheat, soybeans post sharp losses - AgCanada](https://feedsoft.ai/events/8249-u-s-grains-cbot-wheat-soybeans-post-sharp-losses-agcanada.md) | -2.0% | -8.2% |
| WHEAT | 2023-04-24 | [US corn falls after China cancels purchases; drags wheat, soy lower](https://feedsoft.ai/events/10358-us-corn-falls-after-china-cancels-purchases-drags-wheat-soy-lower.md) | -8.3% | -10.0% |
| WHEAT | 2020-07-16 | [Soy, corn higher on improving export demand for U.S. supplies \| Financial Post](https://feedsoft.ai/events/52159-soy-corn-higher-on-improving-export-demand-for-u-s-supplies-financial-post.md) | -0.0% | -2.6% |
| WHEAT | 2024-05-16 | [Soybeans, corn, wheat continue mostly lower trend - Brownfield Ag News](https://feedsoft.ai/events/10512-soybeans-corn-wheat-continue-mostly-lower-trend-brownfield-ag-news.md) | +19.1% | +8.2% |
| SOY | 2020-08-03 | [U.S. wheat futures fall on U.S. export woes; corn, soybeans firm \| Financial Post](https://feedsoft.ai/events/51658-u-s-wheat-futures-fall-on-u-s-export-woes-corn-soybeans-firm-financial-post.md) | -3.0% | +5.9% |
| SOY | 2019-10-23 | [Soybeans pare gains after surge on China demand prospects \| Financial Post](https://feedsoft.ai/events/56613-soybeans-pare-gains-after-surge-on-china-demand-prospects-financial-post.md) | -1.7% | -2.4% |
| SOY | 2020-03-20 | [U.S. wheat, soy rise after export deals; corn sags on ethanol woes \| Financial Post](https://feedsoft.ai/events/6108-u-s-wheat-soy-rise-after-export-deals-corn-sags-on-ethanol-woes-financial-post.md) | +4.4% | -1.3% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/wheat-steadies-after-one-year-low-soybeans-hold-firm

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