# Turner's Take Ag Markets | Rains and Chinese Rate Cut Sends CBOT Lower

> China unexpectedly cut interest rates due to slow GDP growth and a prolonged property market slump. Soybeans fell nearly 70 cents, and crude oil, palm oil, sunflower and canola also declined. US soybean conditions slipped 1% in the latest crop report.

- Date: 2022-08-16 · published 2022-08-16T12:00:00.000Z
- Category: macro · region China · magnitude medium
- Page: https://feedsoft.ai/events/6530-turner-s-take-ag-markets-rains-and-chinese-rate-cut-sends-cbot-lower
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Sunflower Meal](https://feedsoft.ai/c/SUNMEAL.md), [Canola Meal](https://feedsoft.ai/c/CANMEAL.md), [Corn](https://feedsoft.ai/c/CORN.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

The rate cut signals weak Chinese demand and fuels doubts about import growth for oilseeds. The resulting risk-off selling lowers prices across vegetable oils and meals into the North American harvest.

## Read by commodity

- SOY: bearish ▼
- WTI: bearish ▼
- CORN: bearish ▼
- CANMEAL: bearish ▼
- PALMOIL: bearish ▼
- SUNMEAL: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2026-03-20 | [Grains, oilseeds lower as dollar rises \| MarketScreener](https://feedsoft.ai/events/11694-grains-oilseeds-lower-as-dollar-rises-marketscreener.md) | +0.4% | -0.1% |
| SOY | 2024-11-12 | [China’s yuan weakens to 3-1/2-month low as Trump tariff threat weighs - Markets - Business Recorder](https://feedsoft.ai/events/6701-china-s-yuan-weakens-to-3-1-2-month-low-as-trump-tariff-threat-weighs-markets.md) | -0.2% | -1.7% |
| SOY | 2019-07-31 | [The Fed rate cut: Markets reconsider the 'Fed Put' after underwhelming cut](https://feedsoft.ai/events/58267-the-fed-rate-cut-markets-reconsider-the-fed-put-after-underwhelming-cut.md) | -3.5% | -3.7% |
| SOY | 2020-03-01 | [Grains, like economy, trend lower on coronavirus concerns - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/12541-grains-like-economy-trend-lower-on-coronavirus-concerns-agweek-1-source-for.md) | -0.0% | -0.2% |
| SOY | 2020-03-10 | [Fear in the Market Drives Dow and Crude Oil Lower, Drags Ag Markets Along \| Hoosier Ag Today](https://feedsoft.ai/events/11271-fear-in-the-market-drives-dow-and-crude-oil-lower-drags-ag-markets-along.md) | -4.8% | -0.9% |
| PALMOIL | 2022-03-16 | [Palm extends losses - Markets - Business Recorder](https://feedsoft.ai/events/5497-palm-extends-losses-markets-business-recorder.md) | +1.1% | -4.2% |
| PALMOIL | 2024-12-19 | [Ringgit declines to RM4.50 against greenback over US rate cuts \| Malaysiakini](https://feedsoft.ai/events/27221-ringgit-declines-to-rm4-50-against-greenback-over-us-rate-cuts-malaysiakini.md) | -0.1% | -11.2% |
| PALMOIL | 2022-09-28 | [Palm hits lowest in over 1-1/2 years as recession fears dent demand - Markets - Business Recorder](https://feedsoft.ai/events/39674-palm-hits-lowest-in-over-1-1-2-years-as-recession-fears-dent-demand-markets.md) | -4.7% | +1.1% |

## Sources

- stonex.com: https://www.stonex.com/en-us/insights/turner-s-take-ag-markets-rains-and-chinese-rate-cut-sends-cbot-lower/

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