# Are Prices on a Slippery Slope?

> Old crop corn rallied to a six-week high in late April, then fell to a one-month low by Friday, with December new crop closing at its lowest since July 2022. Wheat and soybeans also weakened as the market priced in an expected El Niño and weak US export competitiveness versus Brazil.

- Date: 2023-04-28 · published 2023-04-28T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/36432-are-prices-on-a-slippery-slope
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Hand-to-mouth buying by end users and competitive Brazilian supplies keep prices under pressure, though weather risk could reverse the trend if Northern Hemisphere crops disappoint.

## Read by commodity

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

## Sources

- agriculture.com: https://www.agriculture.com/markets/analysis/are-prices-on-a-slippery-slope

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