# Explained: What spurred the global commodity market sell-off? - CNBC TV18

> Commodity prices fell on Thursday, reversing gains made earlier in 2021, as China acted to stabilise prices and the US dollar strengthened. The dollar hit a two-month high after hawkish Fed statements, and soybean futures fell 20% from May eight-year highs.

- Date: 2021-06-18 · published 2021-06-18T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/5760-explained-what-spurred-the-global-commodity-market-sell-off-cnbc-tv18
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.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 dollar-priced commodities costlier for foreign buyers, lowering demand and pressuring feed ingredient prices.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SOY | 2021-06-16 | 5 | -11.8% | -5.5 | Commodity sell-off from China price stabilization and a two-month-high dollar after hawkish Fed hit soybean futures, down 20% from May highs. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2022-07-07 | [The recent commodity sell-off](https://feedsoft.ai/events/5055-the-recent-commodity-sell-off.md) | +0.5% | -1.4% |
| SOY | 2018-11-01 | [Caixin Explains: Why 7 Is the Yuan’s Unlucky Number - Caixin Global](https://feedsoft.ai/events/62270-caixin-explains-why-7-is-the-yuan-s-unlucky-number-caixin-global.md) | +3.4% | +5.8% |
| SOY | 2020-03-12 | [Fear is the price killer in commodity markets - Manitoba Co-operator](https://feedsoft.ai/events/8373-fear-is-the-price-killer-in-commodity-markets-manitoba-co-operator.md) | -4.9% | -1.5% |
| SOY | 2020-02-28 | [Commodity weekly Gold shines as the clouds darken \| Saxo](https://feedsoft.ai/events/54506-commodity-weekly-gold-shines-as-the-clouds-darken-saxo.md) | +0.3% | -0.7% |
| SOY | 2018-02-01 | [No bull market ahead for commodities, Wells Fargo says](https://feedsoft.ai/events/66409-no-bull-market-ahead-for-commodities-wells-fargo-says.md) | -1.3% | +6.2% |
| CORN | 2022-07-07 | [The recent commodity sell-off](https://feedsoft.ai/events/5055-the-recent-commodity-sell-off.md) | -0.6% | -15.3% |
| CORN | 2022-06-20 | [Selling trend picks up in commodity markets](https://feedsoft.ai/events/40852-selling-trend-picks-up-in-commodity-markets.md) | -3.7% | -11.8% |
| CORN | 2020-03-12 | [Fear is the price killer in commodity markets - Manitoba Co-operator](https://feedsoft.ai/events/8373-fear-is-the-price-killer-in-commodity-markets-manitoba-co-operator.md) | -7.4% | -3.7% |

## Sources

- cnbctv18.com: https://www.cnbctv18.com/market/commodities/explained-what-spurred-the-global-commodity-market-sell-off-9702571.htm

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