# Grain Markets Retreat to Start the Year - Blue Line Futures

> Grain futures retreated at the start of 2024 amid broad risk-off selling that also hit energy and pushed the US dollar higher. March corn set new closing lows and funds held a net short near 178k contracts, while March soybeans fell after beneficial rains in Brazil.

- Date: 2024-01-03 · published 2024-01-03T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/6742-grain-markets-retreat-to-start-the-year-blue-line-futures
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Brazilian rains reduce crop risk for soybeans and the large fund short adds potential for short-covering rallies, but the current trend remains bearish for corn and soybeans.

## Read by commodity

- DXY: bullish ▲
- SOY: bearish ▼
- CORN: bearish ▼

## Sources

- bluelinefutures.com: https://bluelinefutures.com/2024/01/03/grain-markets-retreat-to-start-the-year/

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