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Soybeans fell sharply to their lowest close since Aug. 8 on favorable Midwest weather and concerns about weaker Chinese data.
Corn and wheat also closed lower as crude oil fell and the dollar strengthened. USDA crop condition ratings were mostly steady to slightly higher.
Better crop prospects and weaker energy and export demand outlooks lower feed grain and soymeal values. The market is pricing in more supply and softer demand.
profarmer.comPro Farmer EditorsAug 15, 2022profarmer.comPro Farmer EditorsAug 16, 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 fell sharply on favorable Midwest weather and weak Chinese data, with crude down and the dollar stronger.
Soybeans closed sharply lower on Aug 15 on favorable Midwest weather and weaker Chinese data, directly weighing on meal.
