# Ahead of the Open | December 2, 2022 - Pro Farmer

> 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.

- Date: 2022-12-02 · published 2022-12-02T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/6643-ahead-of-the-open-december-2-2022-pro-farmer
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Weak export demand and a firmer dollar weigh on grain prices, while palm and soyoil weakness reduces vegetable oil support for soybean values.

## Read by commodity

- DXY: bullish ▲
- SBO: bearish ▼
- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼
- KWHEAT: bearish ▼
- PALMOIL: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2022-12-05 | 5 | -13.1% | -3.0 | Winter wheat futures fell to three-month lows on weak export demand early in the window, directly contributing to the multi-day decline. |
| SBO | 2022-12-05 | 1 | -4.5% | -3.1 | 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. |

## Sources

- profarmer.com: https://www.profarmer.com/news/ahead-open/ahead-open-december-2-2022

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