# Markets extend selloff on bearish charts

> Grain futures extended losses overnight, led by sharply lower soybeans. The November soybean contract filled a bullish chart gap despite a USDA report that lowered expected carryout. Forecasts for more rain in the dry northern Plains weighed on prices.

- Date: 2017-07-13 · published 2017-07-13T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/7085-markets-extend-selloff-on-bearish-charts
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Improved rain prospects for the northern Plains reduce the risk of crop losses, which pressures soybean, corn and wheat prices lower. Feed buyers may see softer grain costs in the near term.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Sources

- farmprogress.com: https://www.farmprogress.com/marketing/markets-extend-selloff-on-bearish-charts

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