# Soybeans, corn give back some gains, wheat falls - Brownfield Ag News

> Soybeans, corn and wheat closed lower on profit taking, technical selling and a drop in crude oil. Attention centered on record Brazilian production, which is expected to offset Argentina's drought and frost losses. The USDA's first 2023 planted area report was due shortly, with soybean estimates of 88.6 million acres.

- Date: 2023-02-22 · published 2023-02-22T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/5686-soybeans-corn-give-back-some-gains-wheat-falls-brownfield-ag-news
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Expectations of large South American supply and the USDA planting report are weighing on grain and meal prices. Lower crude oil also reduces support for soybean oil and biofuel-linked demand.

## Read by commodity

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

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/blog/market-news/soybeans-corn-give-back-some-gains-wheat-falls/

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