# Corn firms as oil rally offsets good crop weather in U.S. Midwest | Financial Post

> U.S. corn and soybean futures rose on Monday as crude oil jumped about 15% after weekend attacks on Saudi Arabian oil facilities. Chicago December corn reached $3.74 a bushel, its highest since Aug. 30, and wheat also firmed. A tentative White House plan to raise biofuel blending requirements added support.

- Date: 2019-09-16 · published 2019-09-16T12:00:00.000Z
- Category: geopolitics · region US · magnitude medium
- Page: https://feedsoft.ai/events/9438-corn-firms-as-oil-rally-offsets-good-crop-weather-in-u-s-midwest-financial-post
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Higher crude lifts the value of ethanol and biodiesel, which pulls corn and soybean demand and prices up even though U.S. crop weather was favorable. Feed buyers should expect energy-linked support to persist while the crude rally holds.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2022-03-21 | [U.S. wheat, corn, soy rally on concerns about Ukraine-Russia fighting \| Financial Post](https://feedsoft.ai/events/6241-u-s-wheat-corn-soy-rally-on-concerns-about-ukraine-russia-fighting-financial.md) | +1.5% | +11.2% |
| CORN | 2022-02-28 | [Wheat jumps most in a decade; corn, soybeans firm on supply woes \| Financial Post](https://feedsoft.ai/events/9673-wheat-jumps-most-in-a-decade-corn-soybeans-firm-on-supply-woes-financial-post.md) | +10.4% | +14.4% |
| CORN | 2022-09-28 | [Wheat up on war worries; corn, soy also firm despite recession fears \| Financial Post](https://feedsoft.ai/events/39646-wheat-up-on-war-worries-corn-soy-also-firm-despite-recession-fears-financial.md) | +1.9% | +4.4% |
| CORN | 2022-11-15 | [CME feeder cattle approach one-month low as corn jumps \| Financial Post](https://feedsoft.ai/events/7174-cme-feeder-cattle-approach-one-month-low-as-corn-jumps-financial-post.md) | -1.3% | -5.1% |
| CORN | 2023-07-18 | [Wheat prices fall amid faster harvest and improved U.S. crop conditions](https://feedsoft.ai/events/35088-wheat-prices-fall-amid-faster-harvest-and-improved-u-s-crop-conditions.md) | +18.0% | -1.3% |
| SOY | 2022-03-21 | [U.S. wheat, corn, soy rally on concerns about Ukraine-Russia fighting \| Financial Post](https://feedsoft.ai/events/6241-u-s-wheat-corn-soy-rally-on-concerns-about-ukraine-russia-fighting-financial.md) | +2.5% | +2.8% |
| SOY | 2022-02-28 | [Wheat jumps most in a decade; corn, soybeans firm on supply woes \| Financial Post](https://feedsoft.ai/events/9673-wheat-jumps-most-in-a-decade-corn-soybeans-firm-on-supply-woes-financial-post.md) | +5.4% | +7.5% |
| SOY | 2022-09-28 | [Wheat up on war worries; corn, soy also firm despite recession fears \| Financial Post](https://feedsoft.ai/events/39646-wheat-up-on-war-worries-corn-soy-also-firm-despite-recession-fears-financial.md) | -1.7% | -1.8% |

## Sources

- financialpost.com: https://financialpost.com/pmn/business-pmn/corn-firms-as-oil-rally-offsets-good-crop-weather-in-u-s-midwest-2

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