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Soybeans, corn and wheat fell sharply on fund and technical selling, along with spillover from crude oil and the dollar. USDA lowered the new-crop U.S. soybean production estimate and cut crush and export projections, while Brazil's 2022 soybean crop was pegged at 125.79 million tons.
Lower U.S. soybean production and export projections are mildly supportive, but the broader bearish grain and oilseed sentiment dominated, pressuring soybean meal and oil futures.
brownfieldagnews.comJul 12, 2022Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
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.
Soybeans, corn and wheat fell sharply on July 12 on fund and technical selling plus spillover from crude oil and the dollar, and USDA's cuts to crush and exports added to the pressure on the soy complex.
Fund and technical selling plus spillover from crude oil and the dollar drove corn lower.
