# Corn prices fell 7.8%, pressured by a drop in the oil market and data from the USDA report 13.07.2022 - UkrAgroConsult

> Corn futures fell 7.8% as crude oil collapsed, with Brent and WTI dropping to their lowest levels since April and early summer respectively. Investors sold commodities and bought U.S. government bonds, pushing the dollar to a 20-year high. The USDA July report added little support, with a small rise in world corn production and ending stocks.

- Date: 2022-07-13 · published 2022-07-13T12:00:00.000Z
- Category: macro · region Global · magnitude medium
- Page: https://feedsoft.ai/events/6833-corn-prices-fell-7-8-pressured-by-a-drop-in-the-oil-market-and-data-from-the
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Crude Oil (Brent)](https://feedsoft.ai/c/BRENT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Weaker energy prices reduce the cost of biofuel-linked corn demand and pull grain prices lower, while a stronger dollar makes U.S. feed grains more expensive for importers. Buyers may see cheaper feed inputs in the near term.

## Read by commodity

- DXY: bullish ▲
- WTI: bearish ▼
- CORN: bearish ▼
- BRENT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2022-07-14 | 1 | -8.1% | -4.5 | Corn futures fell about 7.8% as crude oil collapsed, the dollar hit a 20-year high and investors sold commodities, with the bearish USDA report adding to the pressure. |
| CORN | 2022-07-15 | 5 | -8.9% | -3.0 | Corn fell as crude oil collapsed, commodities were sold broadly and the dollar hit a 20-year high, a macro, energy and currency driver in the window. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2022-03-17 | [Asian corn plunges $13/mt on day, posts biggest daily drop on record 17.03.2022 - UkrAgroConsult](https://feedsoft.ai/events/9946-asian-corn-plunges-13-mt-on-day-posts-biggest-daily-drop-on-record-17-03-2022.md) | +2.8% | +7.8% |
| CORN | 2021-12-01 | [Global corn prices accelerated their decline 01.12.2021 - UkrAgroConsult](https://feedsoft.ai/events/43623-global-corn-prices-accelerated-their-decline-01-12-2021-ukragroconsult.md) | +8.0% | +4.8% |
| CORN | 2022-07-15 | [Volatility in the markets again this week from WASDE report and inflationary pressures - Agweek \| #1 source for agriculture news, farming, markets](https://feedsoft.ai/events/4309-volatility-in-the-markets-again-this-week-from-wasde-report-and-inflationary.md) | -10.7% | -8.4% |
| CORN | 2020-03-09 | [The Sprout: Agriculture futures slip as stock market falls in reaction to oil price drop - iPolitics](https://feedsoft.ai/events/11276-the-sprout-agriculture-futures-slip-as-stock-market-falls-in-reaction-to-oil.md) | +0.3% | -1.7% |
| CORN | 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) | -3.4% | -3.3% |
| WTI | 2021-12-01 | [Global corn prices accelerated their decline 01.12.2021 - UkrAgroConsult](https://feedsoft.ai/events/43623-global-corn-prices-accelerated-their-decline-01-12-2021-ukragroconsult.md) | +8.8% | +15.8% |
| WTI | 2021-12-01 | [The fall in the price of oil pulls down quotes for vegetable oils 01.12.2021 - UkrAgroConsult](https://feedsoft.ai/events/5260-the-fall-in-the-price-of-oil-pulls-down-quotes-for-vegetable-oils-01-12-2021.md) | +8.8% | +15.8% |
| WTI | 2025-04-07 | [Palm and soybean oil prices fell by 4.4-5.9% amid a 14.5% drop in oil prices in two days](https://feedsoft.ai/events/9630-palm-and-soybean-oil-prices-fell-by-4-4-5-9-amid-a-14-5-drop-in-oil-prices-in.md) | -0.8% | -6.8% |

## Sources

- ukragroconsult.com: https://ukragroconsult.com/en/news/corn-prices-fell-7-8-pressured-by-a-drop-in-the-oil-market-and-data-from-the-usda-report/

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