# Feedgrain Focus: Rain reignites southern inverse - Beef Central

> Crude oil futures fell more than 2% on November 28 to Brent near $81, the lowest since January, after protests over Covid restrictions in China. Reports of a US license for Chevron to resume Venezuelan production added pressure ahead of an OPEC meeting.

- Date: 2022-11-22 · published 2022-11-22T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/38801-feedgrain-focus-rain-reignites-southern-inverse-beef-central
- Commodities: [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Weaker crude and softer Chinese demand expectations lower energy costs and reduce biofuel-linked support for vegetable oils and feed inputs.

## Read by commodity

- WTI: bearish ▼
- BRENT: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| BRENT | 2020-03-16 | [Latam FX caught in virus-driven rout; Chile central bank cuts rates](https://feedsoft.ai/events/6398-latam-fx-caught-in-virus-driven-rout-chile-central-bank-cuts-rates.md) | -20.5% | -23.3% |
| BRENT | 2022-12-15 | [Oil prices slid 2% as dollar firms and central banks hike interest rates](https://feedsoft.ai/events/38152-oil-prices-slid-2-as-dollar-firms-and-central-banks-hike-interest-rates.md) | -2.2% | +1.6% |
| BRENT | 2020-03-10 | [Daily Market Wire 10 March 2020 - Grain Central](https://feedsoft.ai/events/11272-daily-market-wire-10-march-2020-grain-central.md) | -16.8% | -21.6% |
| BRENT | 2020-03-24 | [Feed grain report (March 2020) \| AHDB](https://feedsoft.ai/events/6105-feed-grain-report-march-2020-ahdb.md) | -17.5% | -47.6% |
| BRENT | 2024-12-19 | [The Commodities Feed: Fed comments weigh on the complex \| ING THINK](https://feedsoft.ai/events/26850-the-commodities-feed-fed-comments-weigh-on-the-complex-ing-think.md) | -0.8% | +10.7% |
| WTI | 2020-03-16 | [Latam FX caught in virus-driven rout; Chile central bank cuts rates](https://feedsoft.ai/events/6398-latam-fx-caught-in-virus-driven-rout-chile-central-bank-cuts-rates.md) | -35.6% | -29.5% |
| WTI | 2020-05-15 | [Feed millers in US to return to soy diets](https://feedsoft.ai/events/53225-feed-millers-in-us-to-return-to-soy-diets.md) | +24.5% | +32.0% |
| WTI | 2021-04-22 | [ECB In Focus, While Australia Pokes The Panda \| Investing.com](https://feedsoft.ai/events/47829-ecb-in-focus-while-australia-pokes-the-panda-investing-com.md) | +4.0% | +3.2% |

## Sources

- beefcentral.com: https://www.beefcentral.com/lotfeeding/feedgrain-focus-rain-reignites-southern-inverse/

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