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Winter wheat futures fell to three-month lows on weak export demand, with SRW and spring wheat down 8 to 14 cents and HRW down 18 to 21 cents. Corn and soybeans also weakened, and Malaysian palm oil fell 2.9% amid ringgit strength and soyoil weakness.
Weak export demand and a firmer dollar weigh on grain prices, while palm and soyoil weakness reduces vegetable oil support for soybean values.
profarmer.comPro Farmer EditorsDec 2, 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.
Winter wheat futures fell to three-month lows on weak export demand early in the window, directly contributing to the multi-day decline.
Malaysian palm oil fell 2.9% and soyoil was weak on Dec 2, a bearish vegetable oil signal that likely carried into the Dec 5 selloff through substitution and sentiment.
