# The situation in the US is improving because of the precipitation, in Ukraine however it does not rain

> Chicago wheat and soybeans rose on Tuesday while corn was stable, and the US dollar fell about 1% to a nine-month low. OPEC signaled no quick output cuts, pushing oil prices lower, and Minneapolis September wheat reached about $6.90/bu, the highest since June 2014.

- Date: 2017-06-28 · published 2017-06-28T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/70610-the-situation-in-the-us-is-improving-because-of-the-precipitation-in-ukraine
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A weaker dollar and firmer wheat support grain prices, while lower crude oil reduces the energy-linked cost support for biofuel feedstocks.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2019-12-27 | [Fluctuations in sterling affecting grain prices \| The Scottish Farmer](https://feedsoft.ai/events/55651-fluctuations-in-sterling-affecting-grain-prices-the-scottish-farmer.md) | +0.2% | +2.3% |
| WHEAT | 2022-04-26 | [Ukraine war to cause biggest price shock in 50 years - World Bank](https://feedsoft.ai/events/41883-ukraine-war-to-cause-biggest-price-shock-in-50-years-world-bank.md) | -1.4% | +1.8% |
| WHEAT | 2022-02-14 | [Dollar strengthens on Bullard rate comments, Ukraine concerns](https://feedsoft.ai/events/42875-dollar-strengthens-on-bullard-rate-comments-ukraine-concerns.md) | +0.3% | +14.4% |
| WHEAT | 2019-11-22 | [Prices of sorghum, millet declining in Sudan - Dabanga Radio TV Online](https://feedsoft.ai/events/56120-prices-of-sorghum-millet-declining-in-sudan-dabanga-radio-tv-online.md) | +1.6% | -0.7% |
| WHEAT | 2020-12-03 | [Grains and the Dollar: An Imperfect but Negative Relationship](https://feedsoft.ai/events/5269-grains-and-the-dollar-an-imperfect-but-negative-relationship.md) | +9.8% | +9.8% |
| SOY | 2019-02-27 | [US Corn Is King Now, but Production Costs Threaten Its Reign](https://feedsoft.ai/events/60638-us-corn-is-king-now-but-production-costs-threaten-its-reign.md) | -0.3% | -0.3% |
| SOY | 2018-11-16 | [Is a Chinese yuan appreciation on the way? - CGTN](https://feedsoft.ai/events/62267-is-a-chinese-yuan-appreciation-on-the-way-cgtn.md) | -0.9% | +1.8% |
| SOY | 2019-06-17 | [FX Talking: The beginning of the end of the dollar’s rally \| reports \| ING THINK](https://feedsoft.ai/events/9810-fx-talking-the-beginning-of-the-end-of-the-dollar-s-rally-reports-ing-think.md) | +0.7% | +0.6% |

## Sources

- grainsprices.com: https://grainsprices.com/article/12794

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