# Correction hits corn, soybeans, wheat hard - Brownfield Ag News

> 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.

- Date: 2021-05-14 · published 2021-05-14T12:00:00.000Z
- Category: market · region US · magnitude medium
- Page: https://feedsoft.ai/events/11415-correction-hits-corn-soybeans-wheat-hard-brownfield-ag-news
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

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.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2021-05-17 | 5 | -7.9% | -3.3 | 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. |
| SOY | 2021-05-17 | 5 | -5.2% | -2.9 | 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. |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/news/correction-hits-corn-soybeans-wheat-hard/

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