# Ahead of the Open | November 1, 2021 - Pro Farmer

> SRW wheat futures rallied to their highest levels in nearly nine years on reports of large export purchases, with HRW and spring wheat also surging. Corn hit a 2.5-month high while soybeans eased. Fertilizer shortage fears in France pushed up nitrogen prices after soaring gas costs.

- Date: 2021-11-01 · published 2021-11-01T12:00:00.000Z
- Category: market · region US · magnitude medium
- Page: https://feedsoft.ai/events/7312-ahead-of-the-open-november-1-2021-pro-farmer
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Urea](https://feedsoft.ai/c/UREA.md)

## Why it matters

Strong export buying tightens wheat supplies and lifts prices. Higher fertilizer costs may reduce fertilizer-intensive corn plantings next year, adding support to corn.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2021-11-01 | 5 | +10.3% | 2.9 | SRW rallied to nearly nine-year highs on large export purchases, with input-cost worries from higher nitrogen prices adding support. |
| CORN | 2021-11-01 | 1 | +4.8% | 4.3 | Notes corn hit a 2.5-month high alongside a wheat rally on export purchases, with fertilizer and nitrogen price pressure adding to sentiment. |

## Sources

- profarmer.com: https://www.profarmer.com/news/ahead-open/ahead-open-november-1-2021

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