# Soybeans, corn, wheat continue mostly lower trend - Brownfield Ag News

> Soybeans, corn and wheat closed mostly lower on profit taking and technical selling. Weekly old-crop soybean export sales were 9.8 million bushels, with net cancellations including China, and new-crop sales were thin. Corn old-crop sales were 29.2 million bushels, and the Buenos Aires Grain Exchange cut its Argentine soybean estimate to 50.5 million tons.

- Date: 2024-05-16 · published 2024-05-16T12:00:00.000Z
- Category: trade · region US · magnitude low
- Page: https://feedsoft.ai/events/10512-soybeans-corn-wheat-continue-mostly-lower-trend-brownfield-ag-news
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Weak export demand and Brazil's dominance of world soybean trade weigh on soybean and meal prices, and China retaliation concerns add downside risk. Lower soybean meal prices also feed through to meal-based feed costs.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2017-03-22 | [Soybeans mostly lower, corn down, watching South America - Brownfield Ag News](https://feedsoft.ai/events/10726-soybeans-mostly-lower-corn-down-watching-south-america-brownfield-ag-news.md) | -2.9% | -5.1% |
| SOY | 2016-07-19 | [Soybeans, corn, wheat give back gains - Brownfield Ag News](https://feedsoft.ai/events/7423-soybeans-corn-wheat-give-back-gains-brownfield-ag-news.md) | -8.8% | -5.1% |
| SOY | 2023-05-17 | [Another down day for soybeans, corn, wheat - Brownfield Ag News](https://feedsoft.ai/events/5017-another-down-day-for-soybeans-corn-wheat-brownfield-ag-news.md) | -3.0% | +1.8% |
| SOY | 2018-06-25 | [Soybeans, corn down on trade tensions, weather - Brownfield Ag News](https://feedsoft.ai/events/8583-soybeans-corn-down-on-trade-tensions-weather-brownfield-ag-news.md) | -4.0% | -5.2% |
| SOY | 2016-08-31 | [Soybeans hit new multi-month lows - Brownfield Ag News](https://feedsoft.ai/events/12396-soybeans-hit-new-multi-month-lows-brownfield-ag-news.md) | +2.7% | -2.1% |
| CORN | 2017-03-22 | [Soybeans mostly lower, corn down, watching South America - Brownfield Ag News](https://feedsoft.ai/events/10726-soybeans-mostly-lower-corn-down-watching-south-america-brownfield-ag-news.md) | -0.3% | -0.1% |
| CORN | 2016-07-19 | [Soybeans, corn, wheat give back gains - Brownfield Ag News](https://feedsoft.ai/events/7423-soybeans-corn-wheat-give-back-gains-brownfield-ag-news.md) | -3.7% | -6.8% |
| CORN | 2023-05-17 | [Another down day for soybeans, corn, wheat - Brownfield Ag News](https://feedsoft.ai/events/5017-another-down-day-for-soybeans-corn-wheat-brownfield-ag-news.md) | +2.4% | +0.5% |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/soybeans-corn-wheat-continue-mostly-lower-trend/

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