# U.S. grains: Soybeans and corn rise on bargain-buying after sharp falls

> U.S. soybean and corn futures rose on bargain buying and short-covering after recently hitting three-year lows. Wheat also traded higher, while plentiful South American supply limited gains. Traders were awaiting a USDA supply and demand report due Friday.

- Date: 2024-03-04 · published 2024-03-04T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/7859-u-s-grains-soybeans-and-corn-rise-on-bargain-buying-after-sharp-falls
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Short-covering ahead of a major USDA report can lift feed grain prices temporarily, but abundant South American supply caps the rebound and keeps the broader price outlook weak.

## Read by commodity

- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2024-03-04 | 1 | +3.4% | 4.1 | On 2024-03-04 corn rose on bargain buying and short covering after three-year lows, which directly explains the sharp one-day rebound. |
| WHEAT | 2024-03-04 | 1 | +4.2% | 4.3 | On March 4 grains bounced on bargain buying and short covering after three-year lows, with wheat higher, which is consistent with a sharp one-day rebound in SRW. |

## Sources

- farmtario.com: https://farmtario.com/daily/u-s-grains-soybeans-and-corn-rise-on-bargain-buying-after-sharp-falls/

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