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Chicago soybean futures fell on concerns that a firm dollar and weakening global economy could slow US exports. Wheat rallied on bargain buying and lifted corn, though gains were limited after the Federal Reserve signaled further rate increases and the Bank of England also raised rates.
Stronger dollar and tighter monetary policy weigh on commodity demand and export pace, pressuring soybean and corn prices.
reuters.comMark WeinraubDec 15, 2022After 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 57 past bullish macro events, Wheat (SRW) moved a median +0.3% over 5 sessions (65% higher; middle half -0.5% to +1.7%), and -0.7% over 20.
After 78 past neutral macro events, Corn moved a median +0.3% over 5 sessions (55% higher; middle half -1.1% to +1.6%), and -0.6% over 20.
After 2,356 past bullish macro events, US Dollar (Broad) moved a median +0.2% over 5 sessions (60% higher; middle half -0.3% to +0.7%), and +0.4% 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.
