# Wheat, soybeans hit hard by rain - Brownfield Ag News

> Soybean futures fell sharply on speculative and technical selling as Argentina's rain came too late for some areas, while Brazil's harvest progressed well with a large crop expected. Corn and wheat also declined on technical and speculative selling, with Kansas City wheat pressured by Plains rain.

- Date: 2018-03-19 · published 2018-03-19T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/10255-wheat-soybeans-hit-hard-by-rain-brownfield-ag-news
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Improved South American harvest prospects and weekend rain in the US Plains add supply expectations that weigh on grain prices, though Argentina's late-season damage limits the downside.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SOY | 2018-03-18 | 1 | -2.6% | -3.4 | Describes the sharp soybean futures drop on speculative and technical selling, with Argentine rain arriving and a large Brazilian harvest, which matches the timing and direction of the move. |
| SBM | 2018-03-18 | 1 | -3.8% | -3.5 | Reports soybean futures fell sharply on speculative and technical selling as Argentina's rain came too late for some areas and Brazil's large harvest progressed, directly describing the selloff. |
| KWHEAT | 2018-03-18 | 1 | -5.9% | -4.0 | Says Kansas City wheat was pressured by Plains rain and technical and speculative selling, which fits a supply-relief and sentiment-driven drop. |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/wheat-soybeans-hit-hard-rain/

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