Loading…
Soybeans, corn and wheat fell sharply on May 13, 2021 on profit-taking and technical selling despite a neutral-to-bullish USDA report. Corn hit limit down in July and near limit down in September, while soybeans lost about $0.30 to $0.60 across most months.
Soybean meal and oil also declined, though losses were limited by global vegetable oil demand.
Sharp losses reflect technical liquidation rather than a change in tight near-term supply, so prices may stay volatile while uncertainty over ending stocks persists.
brownfieldagnews.comMay 14, 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.
May 13 sharp profit-taking and technical selling hit soybeans, corn and wheat, with soybean meal also lower, directly driving the sharp decline in the window.
Sharp May 13 profit-taking and technical selling in soybeans, corn and wheat (soybeans down $0.30-0.60) directly explains most of the 5-day decline.
