# Ahead of the Open | November 28, 2022 - Pro Farmer

> SRW wheat futures fell to three-month lows and corn and soybeans also declined amid unprecedented Covid protests in China. Crude oil dropped under $74 to an 11-month low, and USDA reported a sale of 110,000 MT of soybeans to unknown destinations.

- Date: 2022-11-28 · published 2022-11-28T12:00:00.000Z
- Category: geopolitics · region China · magnitude medium
- Page: https://feedsoft.ai/events/12216-ahead-of-the-open-november-28-2022-pro-farmer
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Civil unrest in China clouds demand outlook for grains and oilseeds, while weaker crude reduces support for corn and ethanol-linked values. Prices face bearish pressure heading into trade.

## Read by commodity

- SOY: bearish ▼
- WTI: 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 | Pro Farmer's preview of the 11/28 session shows corn declining alongside wheat at three-month lows and crude oil at an 11-month low amid the China protests, adding sentiment and energy-linked selling pressure. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2022-03-14 | [Ahead of the Open \| March 14, 2022 - Pro Farmer](https://feedsoft.ai/events/5498-ahead-of-the-open-march-14-2022-pro-farmer.md) | -1.8% | +6.6% |
| WHEAT | 2022-11-02 | [After the Bell \| November 2, 2022 - Pro Farmer](https://feedsoft.ai/events/7226-after-the-bell-november-2-2022-pro-farmer.md) | +6.5% | +7.6% |
| WHEAT | 2022-07-21 | [After the Bell \| July 21, 2022 - Pro Farmer](https://feedsoft.ai/events/12604-after-the-bell-july-21-2022-pro-farmer.md) | -11.0% | -1.2% |
| WHEAT | 2023-10-03 | [After the Bell \| October 4, 2023 - Pro Farmer](https://feedsoft.ai/events/7143-after-the-bell-october-4-2023-pro-farmer.md) | +5.2% | +5.2% |
| WHEAT | 2022-02-25 | [After the Bell \| February 25, 2022 - Pro Farmer](https://feedsoft.ai/events/8524-after-the-bell-february-25-2022-pro-farmer.md) | +9.4% | +23.7% |
| CORN | 2022-03-14 | [Ahead of the Open \| March 14, 2022 - Pro Farmer](https://feedsoft.ai/events/5498-ahead-of-the-open-march-14-2022-pro-farmer.md) | +1.1% | +10.2% |
| CORN | 2022-11-02 | [After the Bell \| November 2, 2022 - Pro Farmer](https://feedsoft.ai/events/7226-after-the-bell-november-2-2022-pro-farmer.md) | -1.3% | -3.7% |
| CORN | 2022-07-21 | [After the Bell \| July 21, 2022 - Pro Farmer](https://feedsoft.ai/events/12604-after-the-bell-july-21-2022-pro-farmer.md) | -5.2% | -0.3% |

## Sources

- profarmer.com: https://www.profarmer.com/news/ahead-open/ahead-open-november-28-2022

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