# China’s COVID protests sink soy, corn prices - Beachner Grain

> Corn and soybean futures fell as Chinese protests against strict Covid lockdowns spread across the country. Most 2022 corn contracts traded between $6.60 and $6.70 per bushel, and weekly export sales were reported by USDA.

- Date: 2022-11-28 · published 2022-11-28T12:00:00.000Z
- Category: geopolitics · region China · magnitude medium
- Page: https://feedsoft.ai/events/12215-china-s-covid-protests-sink-soy-corn-prices-beachner-grain
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Concern over Chinese consumption weakens demand expectations for feed grains and soybeans, pressuring prices. Mexico's strong weekly corn purchases provide some offsetting support.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2022-11-28 | 1 | -2.9% | -3.0 | Corn and soybean futures fell on 2022-11-28 as Chinese Covid lockdown protests spread, raising fears of weaker Chinese demand, which is the most direct driver of the one-day drop. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2023-05-17 | [Black Sea deal extension sinks grain prices](https://feedsoft.ai/events/5012-black-sea-deal-extension-sinks-grain-prices.md) | +2.4% | +0.5% |
| CORN | 2022-05-03 | [Slow news day sends corn, soy prices lower – The Seam](https://feedsoft.ai/events/5843-slow-news-day-sends-corn-soy-prices-lower-the-seam.md) | +3.6% | +3.0% |
| CORN | 2022-02-26 | [GRAIN & PRICES WEEKLY REPORT](https://feedsoft.ai/events/8529-grain-and-prices-weekly-report.md) | +10.4% | +14.4% |
| CORN | 2022-11-22 | [Black Sea grain corridor lives on](https://feedsoft.ai/events/14443-black-sea-grain-corridor-lives-on.md) | -1.5% | -3.0% |
| CORN | 2026-06-16 | [Corn, Wheat And Soy All See Prices Drop On Prospect Of US-Iran Deal \| ESM Magazine](https://feedsoft.ai/events/18835-corn-wheat-and-soy-all-see-prices-drop-on-prospect-of-us-iran-deal-esm-magazine.md) | -0.8% | +1.7% |
| SOY | 2023-05-17 | [Black Sea deal extension sinks grain prices](https://feedsoft.ai/events/5012-black-sea-deal-extension-sinks-grain-prices.md) | -3.0% | +1.8% |
| SOY | 2022-05-03 | [Slow news day sends corn, soy prices lower – The Seam](https://feedsoft.ai/events/5843-slow-news-day-sends-corn-soy-prices-lower-the-seam.md) | -3.2% | +0.6% |
| SOY | 2022-02-26 | [GRAIN & PRICES WEEKLY REPORT](https://feedsoft.ai/events/8529-grain-and-prices-weekly-report.md) | +5.4% | +7.5% |

## Sources

- beachnergrain.com: https://www.beachnergrain.com/story-chinas-covid-protests-sink-soy-corn-prices-22-229585

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