US agricultural futures fell sharply as record production and improved meat supply prospects drove speculators out of the market. Net fund flows into agricultural exchange-traded products turned negative, while speculative long positions in bullish agricultural products dropped by 78% since April.
Cotton, soybeans, corn and wheat were described as recently entering a bear market.
Heavy fund liquidation and expectations of a record US harvest add downward pressure on grain and oilseed prices. Lower feed grain prices can improve margins for livestock producers.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.