Loading…
Grains ended October with five weeks of mostly declines, with December Chicago corn at US$176 per tonne, its lowest in nearly four months, and soybeans at US$454 per tonne. The Brazilian real depreciated about 12% after the election, pushing Brazilian soybean meal FOB down 4% and Brazilian corn FOB down 1.5% to US$213 per tonne.
Argentine wheat futures on A3 hit a record monthly volume.
A weaker real makes Brazilian export prices more competitive, pressuring global soymeal and corn values, while Chicago's downtrend reflects ample US supply.
argenfields.comNewsroom ArgenFieldsOct 31, 2026After 301 past bearish macro events, Corn moved a median -0.1% over 5 sessions (47% higher; middle half -2.2% to +1.3%), and +0.2% over 20.
After 117 past bearish macro events, Soybean Meal moved a median -0.6% over 5 sessions (41% higher; middle half -2.5% to +1.7%), and +0.5% over 20.
After 273 past bearish macro events, Soybeans moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.4%), and -0.5% over 20.
After 301 past bullish macro events, Brazilian Real (BRL per USD) moved a median +0.4% over 5 sessions (57% higher; middle half -1.2% to +1.7%), and +1.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
