# Ag Commodities, Companies Slapped Hard by Brexit Vote - 24/7 Wall St.

> Agricultural commodity prices fell on Friday after the U.K. voted to leave the European Union, mainly due to a stronger dollar against sterling and the euro. Chicago soft red winter wheat fell 1.7 percent and Kansas City hard red winter wheat fell 1.9 percent. London wheat rose 3.7 percent as sterling hit a 30-year low, and corn and soybeans also traded lower.

- Date: 2016-06-24 · published 2016-06-24T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/9750-ag-commodities-companies-slapped-hard-by-brexit-vote-24-7-wall-st
- 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), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [British Pound (USD per GBP)](https://feedsoft.ai/c/GBPUSD.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

The stronger dollar makes U.S. grain and oilseed exports more expensive for importers, pushing down futures prices. The sterling slump lifts London wheat prices, which shows currency effects vary by market.

## Read by commodity

- DXY: bullish ▲
- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼
- EURUSD: bearish ▼
- GBPUSD: bearish ▼
- KWHEAT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2016-06-20 | [EU wheat capped by firmer euro as Brexit signs wane](https://feedsoft.ai/events/10755-eu-wheat-capped-by-firmer-euro-as-brexit-signs-wane.md) | +2.7% | -8.2% |
| WHEAT | 2018-06-25 | [COT Dollar strength and trade fears trigger big changes across forex and commodities \| Saxo](https://feedsoft.ai/events/11644-cot-dollar-strength-and-trade-fears-trigger-big-changes-across-forex-and.md) | -0.0% | -0.6% |
| WHEAT | 2023-04-21 | [Commodity Weekly: April losses led by grains and industrial metals \| Saxo](https://feedsoft.ai/events/10364-commodity-weekly-april-losses-led-by-grains-and-industrial-metals-saxo.md) | -8.6% | -9.9% |
| WHEAT | 2022-07-07 | [The recent commodity sell-off](https://feedsoft.ai/events/5055-the-recent-commodity-sell-off.md) | -5.1% | -4.3% |
| WHEAT | 2022-01-28 | [Hawkish Fed a headwind for commodity prices \| Capital Economics](https://feedsoft.ai/events/43044-hawkish-fed-a-headwind-for-commodity-prices-capital-economics.md) | -1.8% | +2.3% |
| KWHEAT | 2016-06-24 | [U.S. grains: Soy, corn drop on Brexit fallout - Grainews](https://feedsoft.ai/events/11728-u-s-grains-soy-corn-drop-on-brexit-fallout-grainews.md) | -5.5% | -2.0% |
| KWHEAT | 2017-03-22 | [Increased competition for U.S. wheat producers.](https://feedsoft.ai/events/72049-increased-competition-for-u-s-wheat-producers.md) | -3.3% | -4.9% |
| KWHEAT | 2022-05-02 | [Perspective: Mid-Day Commentary for May 2](https://feedsoft.ai/events/5844-perspective-mid-day-commentary-for-may-2.md) | +5.9% | +12.9% |

## Sources

- 247wallst.com: https://247wallst.com/commodities-metals/2016/06/24/ag-commodities-companies-slapped-hard-by-brexit-vote/

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