# After the Bell | August 15, 2023 - Pro Farmer

> On August 15, 2023, December corn fell 12.5 cents to a 11-month low and November soybeans fell 20.75 cents. Wheat contracts also hit multi-month lows in a broad risk-off session. The selloff followed weak Chinese economic data.

- Date: 2023-08-15 · published 2023-08-15T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/5613-after-the-bell-august-15-2023-pro-farmer
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

Weaker Chinese economic data signals lower demand for raw commodities, which pressures grain and oilseed prices. Soymeal led the complex lower.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼
- KWHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2023-08-18 | 5 | -10.1% | -2.8 | Broad risk-off selloff on Aug 15 following weak Chinese data pushed November soybeans down about 20 cents, driving sentiment-led losses in the soy complex including meal. |
| SBM | 2023-08-21 | 5 | -8.1% | -2.9 | Broad risk-off selloff on Aug 15 with November soybeans down 20.75 cents and weak Chinese data (demand/sentiment) likely dragged soybean meal lower in the same window. |
| SOY | 2023-08-14 | 1 | -4.9% | -3.3 | Broad risk-off selloff tied to weak Chinese economic data hit soybeans (Nov down 20.75 cents) and other grains, a demand and sentiment channel for the largest soybean importer; the date is Aug 15 rather than Aug 14, so the timing is imperfect. |
| SBM | 2023-08-14 | 1 | -10.2% | -7.2 | Broad risk-off selloff after weak Chinese data pushed soybeans and grains sharply lower, but it is dated Aug 15, after the Aug 14 move window, so it is a related sentiment signal rather than a confirmed driver. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2021-09-20 | [After the Bell \| September 20, 2021 - Pro Farmer](https://feedsoft.ai/events/6378-after-the-bell-september-20-2021-pro-farmer.md) | -4.3% | -4.1% |
| CORN | 2022-06-15 | [Ahead of the Open \| June 15, 2022 - Pro Farmer](https://feedsoft.ai/events/7221-ahead-of-the-open-june-15-2022-pro-farmer.md) | -1.6% | +0.4% |
| CORN | 2020-08-04 | [Poultry farmers in India seeking $2.7 billion after virus scare](https://feedsoft.ai/events/51765-poultry-farmers-in-india-seeking-2-7-billion-after-virus-scare.md) | -0.6% | +7.2% |
| CORN | 2021-06-16 | [Dollar jumps after Fed pulls interest rate hikes into 2023 \| Reuters](https://feedsoft.ai/events/5929-dollar-jumps-after-fed-pulls-interest-rate-hikes-into-2023-reuters.md) | -2.3% | +2.5% |
| CORN | 2023-03-08 | [The U.S. dollar bounces to 2023 high as Fed’s Powell signals higher rates - MarketWatch](https://feedsoft.ai/events/37056-the-u-s-dollar-bounces-to-2023-high-as-fed-s-powell-signals-higher-rates.md) | -1.6% | -0.6% |
| SOY | 2021-09-20 | [After the Bell \| September 20, 2021 - Pro Farmer](https://feedsoft.ai/events/6378-after-the-bell-september-20-2021-pro-farmer.md) | +0.1% | -5.2% |
| SOY | 2022-06-15 | [Ahead of the Open \| June 15, 2022 - Pro Farmer](https://feedsoft.ai/events/7221-ahead-of-the-open-june-15-2022-pro-farmer.md) | -2.7% | -5.2% |
| SOY | 2021-06-16 | [Dollar jumps after Fed pulls interest rate hikes into 2023 \| Reuters](https://feedsoft.ai/events/5929-dollar-jumps-after-fed-pulls-interest-rate-hikes-into-2023-reuters.md) | -4.9% | +0.1% |

## Sources

- profarmer.com: https://www.profarmer.com/news/after-bell/after-bell-august-15-2023

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