# US MIDDAY: Grains: Losses deepen - Markets - Business Recorder

> US grain and soybean futures extended losses on July 13 after USDA raised corn production and cut soybean harvest forecasts while reducing corn demand. Sharply lower energy prices, a 20-year high in the dollar and talks on Ukrainian grain exports also weighed on wheat.

- Date: 2022-07-13 · published 2022-07-13T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/4310-us-midday-grains-losses-deepen-markets-business-recorder
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A stronger dollar makes US commodities more expensive for foreign buyers, and weaker energy prices reduce demand expectations, both of which push feed grain and soymeal prices lower.

## Read by commodity

- DXY: bullish ▲
- SOY: bearish ▼
- WTI: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2022-07-14 | 1 | -8.1% | -4.5 | Grain futures extended losses as USDA raised corn production and cut corn demand, with lower energy prices and a strong dollar weighing on prices. |
| CORN | 2022-07-15 | 5 | -8.9% | -3.0 | Losses deepened on July 13 as USDA raised corn production, demand was cut, energy fell and the dollar hit a 20-year high. |
| SOY | 2022-07-14 | 1 | -8.9% | -5.9 | Losses deepened on July 13 on lower energy prices, a very strong dollar and Ukraine export talks, so the selling momentum carried into July 14. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2021-03-10 | [Wheat inches lower, subdued USDA forecast caps losses - Markets - Business Recorder](https://feedsoft.ai/events/7082-wheat-inches-lower-subdued-usda-forecast-caps-losses-markets-business-recorder.md) | -9.5% | -0.3% |
| CORN | 2023-10-04 | [Chicago wheat down - Markets - Business Recorder](https://feedsoft.ai/events/7138-chicago-wheat-down-markets-business-recorder.md) | -0.6% | -2.7% |
| CORN | 2024-11-26 | [Wheat extends losses on better US crop outlook, firmer dollar - Markets - Business Recorder](https://feedsoft.ai/events/11777-wheat-extends-losses-on-better-us-crop-outlook-firmer-dollar-markets-business.md) | -0.6% | +4.7% |
| CORN | 2023-08-29 | [Soybeans fall after data shows US crop less damaged than feared - Markets - Business Recorder](https://feedsoft.ai/events/34582-soybeans-fall-after-data-shows-us-crop-less-damaged-than-feared-markets.md) | -2.8% | -9.5% |
| CORN | 2022-12-20 | [Coceral expects European grain output to rise next year - Markets - Business Recorder](https://feedsoft.ai/events/38166-coceral-expects-european-grain-output-to-rise-next-year-markets-business.md) | +2.9% | +4.3% |
| SOY | 2023-10-04 | [Chicago wheat down - Markets - Business Recorder](https://feedsoft.ai/events/7138-chicago-wheat-down-markets-business-recorder.md) | -0.1% | +1.1% |
| SOY | 2021-10-02 | [CBOT soyabeans extend slide - Markets - Business Recorder](https://feedsoft.ai/events/44605-cbot-soyabeans-extend-slide-markets-business-recorder.md) | -0.3% | -0.9% |
| SOY | 2023-08-29 | [Soybeans fall after data shows US crop less damaged than feared - Markets - Business Recorder](https://feedsoft.ai/events/34582-soybeans-fall-after-data-shows-us-crop-less-damaged-than-feared-markets.md) | -3.3% | -6.6% |

## Sources

- brecorder.com: https://www.brecorder.com/news/40185473

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