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US corn, soybeans and wheat fell about 1.5% to 2% on Friday after profit taking and technical selling, while soyoil dropped more than 5% and soymeal rose about 0.5%. Weakness in stocks and crude oil, which fell below $63 a barrel, added pressure.
NOAA forecasts showed some rain for western Iowa and drier conditions elsewhere in the Corn Belt.
Broad risk-off moves in equities and energy pulled grain futures lower, and soyoil's sharp drop reflects weaker biofuel sentiment. Feed buyers may see softer corn and soybean values in the short term.
highlinegrain.comAug 20, 2021Not 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 recap confirms soyoil fell over 5% amid profit taking, technical selling, and crude oil dropping below $63, which weakened the vegetable-oil/energy complex.
