# End-of-week selloff plagues grain prices

> Grain futures closed lower on July 28, 2023, with corn down about 2% and August soybeans down almost 3%, while wheat losses ranged from 0.25% to 1.25%. Traders took profits after recent gains driven by Black Sea tensions and Midwest heat, as cooler and wetter weather was forecast. Commodity funds were net sellers of major grain contracts on the prior day.

- Date: 2023-07-28 · published 2023-07-28T12:00:00.000Z
- Category: weather · region US · magnitude low
- Page: https://feedsoft.ai/events/10708-end-of-week-selloff-plagues-grain-prices
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Forecast rains and cooler temperatures ease crop stress during pod-setting and reduce the weather premium in corn and soybeans. Fund selling adds further downward pressure in the near term.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2023-05-16 | [U.S. weather, Brazilian production slashes grain prices](https://feedsoft.ai/events/5014-u-s-weather-brazilian-production-slashes-grain-prices.md) | +0.5% | -0.2% |
| CORN | 2021-06-17 | [U.S. grains: Corn, soy plunge on weather, broad commodities sell-off - AgCanada](https://feedsoft.ai/events/5762-u-s-grains-corn-soy-plunge-on-weather-broad-commodities-sell-off-agcanada.md) | -2.4% | +2.5% |
| CORN | 2021-08-30 | [U.S. grains: Prices down on rains, Ida shuts grain facilities - Grainews](https://feedsoft.ai/events/45598-u-s-grains-prices-down-on-rains-ida-shuts-grain-facilities-grainews.md) | -6.1% | -11.6% |
| CORN | 2016-06-23 | [Weather Markets in Full Play as Grain Prices Plummet - Northern Ag Network](https://feedsoft.ai/events/9746-weather-markets-in-full-play-as-grain-prices-plummet-northern-ag-network.md) | -3.5% | -5.7% |
| CORN | 2017-01-11 | [U.S. grains: Wheat hits one-week low on Plains forecasts \| Farmtario](https://feedsoft.ai/events/73032-u-s-grains-wheat-hits-one-week-low-on-plains-forecasts-farmtario.md) | +0.0% | +1.3% |
| SOY | 2023-05-16 | [U.S. weather, Brazilian production slashes grain prices](https://feedsoft.ai/events/5014-u-s-weather-brazilian-production-slashes-grain-prices.md) | -4.2% | -0.1% |
| SOY | 2019-05-18 | [Politics lure prices higher — this week in the grain markets - RealAgriculture](https://feedsoft.ai/events/12126-politics-lure-prices-higher-this-week-in-the-grain-markets-realagriculture.md) | +1.0% | +11.1% |
| SOY | 2022-10-18 | [Weekly Commodities Market Update: Price Gain across Grains](https://feedsoft.ai/events/39199-weekly-commodities-market-update-price-gain-across-grains.md) | -1.0% | +4.1% |

## Sources

- feedstuffs.com: https://www.feedstuffs.com/market-news/end-of-week-selloff-plagues-grain-prices

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