# Wheat, soybeans hit nine-year highs as Russia invades Ukraine

> U.S. wheat and corn futures rose by daily limits on Feb. 24, 2022, while soybeans reached their highest since 2012 as Russian forces attacked Ukraine. Wheat hit a more than nine-year high and corn reached an eight-month peak.

- Date: 2022-02-24 · published 2022-02-24T12:00:00.000Z
- Category: geopolitics · region Ukraine · magnitude high
- Page: https://feedsoft.ai/events/8527-wheat-soybeans-hit-nine-year-highs-as-russia-invades-ukraine
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Worries over Russian and Ukrainian grain supplies prompted traders to hold grain at home, tightening available supply and lifting prices. Feed buyers face higher costs for corn, wheat and soybean-based feed ingredients.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2022-03-04 | 5 | +10.4% | 2.8 | Corn futures rose by the daily limit to an eight-month high on Feb 24 as the invasion began, driving the start of the 5-day move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-02-24 | [Dollar jumps to near two-year high as Russia invades Ukraine \| Reuters](https://feedsoft.ai/events/6980-dollar-jumps-to-near-two-year-high-as-russia-invades-ukraine-reuters.md) | +6.8% | +25.3% |
| WHEAT | 2026-07-15 | [CBOT wheat jumps 5% as Russia-Ukraine hostilities hit trade routes](https://feedsoft.ai/events/7274-cbot-wheat-jumps-5-as-russia-ukraine-hostilities-hit-trade-routes.md) | +4.5% | +0.7% |
| WHEAT | 2022-02-24 | [Export issues ahead as Russia invades Ukraine: Analyst’s insight \| AHDB](https://feedsoft.ai/events/6308-export-issues-ahead-as-russia-invades-ukraine-analyst-s-insight-ahdb.md) | +6.8% | +25.3% |
| WHEAT | 2022-02-24 | [Commodity supplies at risk as Russia invades Ukraine \| Reuters](https://feedsoft.ai/events/14508-commodity-supplies-at-risk-as-russia-invades-ukraine-reuters.md) | +6.8% | +25.3% |
| WHEAT | 2022-02-23 | [Winter Wheat Prices Touch 9-Year High on Russia, Ukraine Fears - Bloomberg](https://feedsoft.ai/events/42748-winter-wheat-prices-touch-9-year-high-on-russia-ukraine-fears-bloomberg.md) | +6.4% | +26.3% |
| CORN | 2026-07-15 | [CBOT wheat jumps 5% as Russia-Ukraine hostilities hit trade routes](https://feedsoft.ai/events/7274-cbot-wheat-jumps-5-as-russia-ukraine-hostilities-hit-trade-routes.md) | +3.2% | -0.3% |
| CORN | 2022-02-24 | [Export issues ahead as Russia invades Ukraine: Analyst’s insight \| AHDB](https://feedsoft.ai/events/6308-export-issues-ahead-as-russia-invades-ukraine-analyst-s-insight-ahdb.md) | +6.5% | +12.3% |
| CORN | 2022-02-24 | [Commodity supplies at risk as Russia invades Ukraine \| Reuters](https://feedsoft.ai/events/14508-commodity-supplies-at-risk-as-russia-invades-ukraine-reuters.md) | +6.5% | +12.3% |

## Sources

- cnbc.com: https://www.cnbc.com/2022/02/24/wheat-soybeans-hit-nine-year-highs-as-russia-invades-ukraine.html

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