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Northern Hemisphere grain markets fell 1-2% on November 30, 2021, with Chicago March wheat down 18 cents to 822.25 cents per bushel and March corn down 9.5 cents. March soybeans fell 11 cents and soybean meal dropped $9.40 per short ton.
Matif wheat and rapeseed also declined, and Black Sea wheat fell $8 per metric ton.
Broad selling across wheat, corn, soy and canola reflects risk-off pressure from Omicron fears, with importers buying into weakness. Lower meal and oil values reduce feed ingredient costs.
graincentral.comGuest AuthorNov 29, 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.
Reports soybean meal falling $9.40/short ton on the next session amid a broad grain selloff; it is dated a day after the move, so it likely reflects the same selling pressure but is not a clean explanation of the 29 Nov drop.
