# Afternoon Market Recap for February 24, 2022 – The Seam

> Russia invaded Ukraine on Feb. 24, 2022, sending CBOT wheat limit-up overnight with corn also surging before trimming gains. Soybeans dipped about 1% on technical selling, while the Dow fell over 400 points and crude oil stayed above $92 a barrel.

- Date: 2022-02-24 · published 2022-02-24T12:00:00.000Z
- Category: geopolitics · region Ukraine · magnitude high
- Page: https://feedsoft.ai/events/8526-afternoon-market-recap-for-february-24-2022-the-seam
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [ULSD / Diesel](https://feedsoft.ai/c/DIESEL.md)

## Why it matters

The invasion removed Black Sea grain supply from the market, lifting wheat and corn prices sharply, with energy also spiking. The price implication is higher feed grain costs, though the rally was volatile.

## Read by commodity

- SBM: bullish ▲
- SBO: bullish ▲
- SOY: neutral
- WTI: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲
- DIESEL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-03-21 | [After the Bell \| March 21, 2022 - Pro Farmer](https://feedsoft.ai/events/6243-after-the-bell-march-21-2022-pro-farmer.md) | +15.8% | +5.9% |
| WHEAT | 2024-02-22 | [Market Perspectives - February 22, 2024 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/8022-market-perspectives-february-22-2024-u-s-grains-and-bioproducts-council.md) | -4.3% | -4.8% |
| WHEAT | 2023-07-24 | [After the Bell \| July 24, 2023 - Pro Farmer](https://feedsoft.ai/events/11935-after-the-bell-july-24-2023-pro-farmer.md) | -0.4% | -0.1% |
| WHEAT | 2017-10-03 | [Black Sea attacks revive fears of grain market turmoil - The Daily](https://feedsoft.ai/events/68358-black-sea-attacks-revive-fears-of-grain-market-turmoil-the-daily.md) | +4.7% | +0.4% |
| WHEAT | 2026-09-01 | [Arable Market Report – 1 September 2026 \| AHDB](https://feedsoft.ai/events/12756-arable-market-report-1-september-2026-ahdb.md) | +0.8% | +0.1% |
| CORN | 2022-03-21 | [After the Bell \| March 21, 2022 - Pro Farmer](https://feedsoft.ai/events/6243-after-the-bell-march-21-2022-pro-farmer.md) | +1.5% | +11.2% |
| CORN | 2023-07-24 | [After the Bell \| July 24, 2023 - Pro Farmer](https://feedsoft.ai/events/11935-after-the-bell-july-24-2023-pro-farmer.md) | +9.3% | -4.1% |
| CORN | 2017-10-03 | [Black Sea attacks revive fears of grain market turmoil - The Daily](https://feedsoft.ai/events/68358-black-sea-attacks-revive-fears-of-grain-market-turmoil-the-daily.md) | -0.7% | -1.5% |

## Sources

- theseam.com: https://www.theseam.com/afternoon-market-recap-for-february-24-2022/
- theseam.com: https://www.theseam.com/morning-market-review-for-february-24-2022/

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