# First Thing Today: Grain, livestock markets expected to face pressure from global risk-off trade after Thanksgiving - Pro Farmer

> Concerns over a heavily mutated Covid-19 variant, B.1.1.529, triggered overnight global stock and oil price declines and a bond rally amid heavy risk-off trade. Grain and livestock futures did not trade overnight, but spillover pressure was expected at the open after the U.S. Thanksgiving holiday. Scientists had fewer than 100 confirmed cases and had not yet drawn conclusions.

- Date: 2021-11-26 · published 2021-11-26T12:00:00.000Z
- Category: disease · region Global · magnitude medium
- Page: https://feedsoft.ai/events/11600-first-thing-today-grain-livestock-markets-expected-to-face-pressure-from-global
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Expected spillover selling could pressure grain and livestock futures, while lower oil prices reduce biofuel and feed-cost support. Uncertainty over the variant's severity keeps volatility elevated.

## Read by commodity

- SOY: bearish ▼
- WTI: bearish ▼
- CORN: bearish ▼
- HOGS: bearish ▼
- WHEAT: bearish ▼
- LCATTLE: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2021-11-29 | 1 | -3.8% | -3.1 | Omicron-driven global risk-off selling in equities and crude, with pressure expected at the post-Thanksgiving open, is the most direct sentiment trigger for the corn decline. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2020-02-07 | [Livestock Markets Strong, Grains Flat, Says CattleFax](https://feedsoft.ai/events/54716-livestock-markets-strong-grains-flat-says-cattlefax.md) | -0.7% | +0.6% |
| CORN | 2022-11-02 | [U.S. corn farmers wary of vomitoxin, latest stress on global grain supplies](https://feedsoft.ai/events/38709-u-s-corn-farmers-wary-of-vomitoxin-latest-stress-on-global-grain-supplies.md) | -1.3% | -3.7% |
| CORN | 2021-03-10 | [Resurgence of African Swine Fever in China Threatens Global Grain Demand](https://feedsoft.ai/events/48100-resurgence-of-african-swine-fever-in-china-threatens-global-grain-demand.md) | -9.5% | -0.3% |
| CORN | 2021-04-22 | [ASF resurgence in China may slow imports of feedgrains \| The Western Producer](https://feedsoft.ai/events/47644-asf-resurgence-in-china-may-slow-imports-of-feedgrains-the-western-producer.md) | +11.6% | +9.8% |
| CORN | 2020-01-28 | [Coronavirus Fears Prompt Flight to Safety in Commodity Markets - Caixin Global](https://feedsoft.ai/events/8057-coronavirus-fears-prompt-flight-to-safety-in-commodity-markets-caixin-global.md) | -0.8% | -2.1% |
| SOY | 2020-04-14 | [U.S. grains: Soybeans drop as livestock markets drag soymeal lower - Grainews](https://feedsoft.ai/events/53721-u-s-grains-soybeans-drop-as-livestock-markets-drag-soymeal-lower-grainews.md) | -3.2% | -0.2% |
| SOY | 2021-03-10 | [Resurgence of African Swine Fever in China Threatens Global Grain Demand](https://feedsoft.ai/events/48100-resurgence-of-african-swine-fever-in-china-threatens-global-grain-demand.md) | -1.2% | -2.3% |
| SOY | 2021-04-22 | [ASF resurgence in China may slow imports of feedgrains \| The Western Producer](https://feedsoft.ai/events/47644-asf-resurgence-in-china-may-slow-imports-of-feedgrains-the-western-producer.md) | +4.0% | +2.7% |

## Sources

- profarmer.com: https://www.profarmer.com/news/agriculture-news/first-thing-today-grain-livestock-markets-expected-face-pressure-global-risk-trade-after-thanksgiving

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