# After the Bell | July 21, 2022 - Pro Farmer

> Soybean futures fell to six-month lows on July 21, with November soybeans down 30.75 cents to $13.01 1/2. December corn dropped 16.5 cents to $5.73 1/2, and wheat contracts fell about 10 to 13 cents after reports that Russia agreed to allow Ukrainian grain exports through the Black Sea. Crude oil also fell sharply, pressuring the soy complex.

- Date: 2022-07-21 · published 2022-07-21T12:00:00.000Z
- Category: geopolitics · region Black Sea · magnitude high
- Page: https://feedsoft.ai/events/12604-after-the-bell-july-21-2022-pro-farmer
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Resumed Ukrainian grain exports through the Black Sea would raise global wheat and corn supply and ease prices. Forecast Midwest rain reduces crop stress, and lower crude oil weakens soyoil and soymeal values.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2022-07-25 | 5 | -10.7% | -3.2 | On July 21 wheat fell 10-13 cents after reports Russia agreed to allow Ukrainian grain exports, with crude weakness adding pressure. |
| SOY | 2022-07-28 | 5 | +14.1% | 4.2 | Soybeans hit six-month lows on July 21, so the subsequent rebound began from a depressed base, which amplifies the percentage move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| 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 | 2022-02-25 | [After the Bell \| February 25, 2022 - Pro Farmer](https://feedsoft.ai/events/8524-after-the-bell-february-25-2022-pro-farmer.md) | +6.6% | +10.3% |
| CORN | 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) | -0.4% | -2.9% |
| 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 | 2022-11-28 | [Ahead of the Open \| November 28, 2022 - Pro Farmer](https://feedsoft.ai/events/12216-ahead-of-the-open-november-28-2022-pro-farmer.md) | -5.0% | -2.5% |
| SOY | 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) | +0.6% | +2.4% |
| SOY | 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) | +1.1% | +2.4% |
| SOY | 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) | -1.0% | +0.5% |

## Sources

- profarmer.com: https://www.profarmer.com/news/after-bell/after-bell-july-21-2022

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