# After the Bell | September 20, 2021 - Pro Farmer

> Grain futures fell on Sept. 20, 2021, as a broad risk-off selloff hit commodity and equity markets over concerns about a Chinese property developer. December corn dropped 5.5 cents to $5.2175 and November soybeans fell 21.5 cents to $12.625, with soymeal and soyoil also lower. USDA reported that 10% of the US corn crop was harvested.

- Date: 2021-09-20 · published 2021-09-20T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/6378-after-the-bell-september-20-2021-pro-farmer
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

Risk-off selling and rising harvest hedge pressure weigh on feed grain and oilseed prices. Hurricane Ida damage to Gulf export terminals limits the near-term export demand that could offset this.

## Read by commodity

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

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2021-09-20 | 1 | -4.1% | -5.1 | A broad risk-off selloff on Sept. 20 over Chinese property developer concerns hit commodity markets including grains, which plausibly explains the outsized one-day drop in wheat via sentiment and fund liquidation. |
| CORN | 2021-09-20 | 1 | -5.5% | -4.0 | Sept. 20 broad risk-off selloff across commodities and equities (Chinese developer concerns) hit grain futures and Dec corn fell, though the quoted 5.5-cent drop is far smaller than a 5.5% move, so the sentiment mechanism explains direction but not full magnitude. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2023-08-15 | [After the Bell \| August 15, 2023 - Pro Farmer](https://feedsoft.ai/events/5613-after-the-bell-august-15-2023-pro-farmer.md) | -2.3% | -4.9% |
| WHEAT | 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) | -2.3% | -13.8% |
| WHEAT | 2021-11-30 | [Afternoon Market Recap for November 30, 2021 - HighLine Grain Growers, Inc](https://feedsoft.ai/events/11598-afternoon-market-recap-for-november-30-2021-highline-grain-growers-inc.md) | -1.0% | -3.4% |
| WHEAT | 2022-07-07 | [The recent commodity sell-off](https://feedsoft.ai/events/5055-the-recent-commodity-sell-off.md) | -5.1% | -4.3% |
| WHEAT | 2022-07-12 | [Dollar rises to 20-year highs, sends grains lower – The Seam](https://feedsoft.ai/events/5974-dollar-rises-to-20-year-highs-sends-grains-lower-the-seam.md) | +7.2% | +7.0% |
| SOY | 2023-08-15 | [After the Bell \| August 15, 2023 - Pro Farmer](https://feedsoft.ai/events/5613-after-the-bell-august-15-2023-pro-farmer.md) | -1.5% | -4.3% |
| 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 | 2023-07-26 | [Fed lifts rates, Powell leaves door open to another hike in September](https://feedsoft.ai/events/35277-fed-lifts-rates-powell-leaves-door-open-to-another-hike-in-september.md) | -4.5% | -10.8% |

## Sources

- profarmer.com: https://www.profarmer.com/news/after-bell/after-bell-september-20-2021
- profarmer.com: https://www.profarmer.com/news/ahead-open/ahead-open-september-20-2021

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