Loading…
Soybeans, soyoil, soymeal, corn and wheat traded sharply lower on September 21, 2020, amid steep losses in equities, crude and gold and a sharply higher US dollar. Traders linked the selloff to profit taking, the lack of new US stimulus and concerns about EU virus restrictions.
Weekly US soybean export sales and USDA trade estimates were also cited.
A stronger dollar and risk-off selling pressure feed-grain and oilseed meal prices, though steady export demand for US soybeans limits the downside.
admis.comSteve FreedSep 21, 2020Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
Same-day report ties the grain selloff to profit taking, a sharply higher US dollar and weaker equities, crude and gold, which fits a sentiment and currency-driven decline in corn.
Soyoil and the broader complex fell sharply on Sept 21 amid profit taking, a stronger dollar, and a crude and equity selloff, driving a large part of the 5-day decline.
