# Chicago posted five weeks of declines, while wheat set a record on A3

> 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.

- Date: 2026-10-31 · published 2026-11-01T06:05:33.819Z
- Category: macro · region Brazil · magnitude medium
- Page: https://feedsoft.ai/events/3994-chicago-posted-five-weeks-of-declines-while-wheat-set-a-record-on-a3
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Brazilian Real (BRL per USD)](https://feedsoft.ai/c/USDBRL.md)

## Why it matters

A weaker real makes Brazilian export prices more competitive, pressuring global soymeal and corn values, while Chicago's downtrend reflects ample US supply.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- CORN: bearish ▼
- USDBRL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2022-06-15 | [Corn, wheat, soya fall amid decline in financial markets - Markets - Business Recorder](https://feedsoft.ai/events/12701-corn-wheat-soya-fall-amid-decline-in-financial-markets-markets-business-recorder.md) | -1.6% | +0.4% |
| CORN | 2022-10-29 | [Corn, wheat sag on firm dollar, concerns over US export demand - Markets - Business Recorder](https://feedsoft.ai/events/4932-corn-wheat-sag-on-firm-dollar-concerns-over-us-export-demand-markets-business.md) | -2.2% | -3.8% |
| CORN | 2023-01-17 | [China's 2022 economic growth one of the worst on record, post-pandemic policy faces test \| Reuters](https://feedsoft.ai/events/37986-china-s-2022-economic-growth-one-of-the-worst-on-record-post-pandemic-policy.md) | -1.8% | +0.1% |
| CORN | 2020-03-09 | [Corn, soybeans, wheat drop about 2% as global markets recoil \| Financial Post](https://feedsoft.ai/events/11269-corn-soybeans-wheat-drop-about-2-as-global-markets-recoil-financial-post.md) | +0.3% | -1.7% |
| CORN | 2024-11-06 | [Wheat, corn and soy fall as market anticipates Trump win - Markets - Business Recorder](https://feedsoft.ai/events/10552-wheat-corn-and-soy-fall-as-market-anticipates-trump-win-markets-business.md) | +1.3% | -1.9% |
| SBM | 2023-01-20 | [Brazil's real set for 2% weekly loss on worries over c.bank independence \| Financial Post](https://feedsoft.ai/events/37979-brazil-s-real-set-for-2-weekly-loss-on-worries-over-c-bank-independence.md) | +0.6% | +3.2% |
| SBM | 2026-10-28 | [Sharp decline in Brazilian real boosts competitiveness of soybean meal exports](https://feedsoft.ai/events/131-sharp-decline-in-brazilian-real-boosts-competitiveness-of-soybean-meal-exports.md) | -3.8% | — |
| SBM | 2024-12-16 | [Brazil currency hits record low amid ongoing fiscal woes](https://feedsoft.ai/events/27145-brazil-currency-hits-record-low-amid-ongoing-fiscal-woes.md) | +2.8% | +4.4% |

## Sources

- argenfields.com: https://www.argenfields.com/en/noticias/chicago-acumulo-cinco-semanas-de-bajas-y-el-trigo-marco-un-record-en-a3-06e6c2

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