# After the Bell | October 4, 2023 - Pro Farmer

> Grain and soy futures ended mostly lower on October 4 amid heavy selling in crude oil and rumors that Russia is willing to re-enter the Black Sea grain deal. December corn fell 1.5 cents to $4.86, and December SRW wheat settled at $5.60. Soybean oil fell 114 points as crude dropped sharply.

- Date: 2023-10-03 · published 2023-10-03T12:00:00.000Z
- Category: geopolitics · region Global · magnitude medium
- Page: https://feedsoft.ai/events/7143-after-the-bell-october-4-2023-pro-farmer
- Commodities: [Feeder Cattle](https://feedsoft.ai/c/FCATTLE.md), [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

A steep crude oil drop weakens the biofuel link that supports soybean oil and corn, while Russian Black Sea deal rumors add downside pressure on wheat. Feed buyers should expect softer grain and oilseed prices if these trends hold.

## Read by commodity

- SBM: bearish ▼
- SBO: bearish ▼
- SOY: bearish ▼
- WTI: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼
- FCATTLE: bearish ▼
- LCATTLE: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBO | 2023-10-09 | 1 | -5.4% | -5.1 | Soybean oil fell on Oct 4 as crude dropped sharply, showing the crude-to-soyoil link via biofuel demand, though this predates the Oct 9 move by several sessions. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| FCATTLE | 2023-07-24 | [After the Bell \| July 24, 2023 - Pro Farmer](https://feedsoft.ai/events/11935-after-the-bell-july-24-2023-pro-farmer.md) | -0.1% | -0.1% |
| FCATTLE | 2022-05-31 | [Market Closes - May 31, 2022 - Kentucky Farm Bureau](https://feedsoft.ai/events/6237-market-closes-may-31-2022-kentucky-farm-bureau.md) | +3.4% | +3.3% |
| FCATTLE | 2022-03-28 | [Cattle market frustrates, but fundamentals are better this spring – The Seam](https://feedsoft.ai/events/7631-cattle-market-frustrates-but-fundamentals-are-better-this-spring-the-seam.md) | +3.3% | +0.1% |
| FCATTLE | 2022-03-09 | [Cattle Input Prices Surge \| Ohio BEEF Cattle Letter](https://feedsoft.ai/events/42434-cattle-input-prices-surge-ohio-beef-cattle-letter.md) | +1.5% | +1.4% |
| FCATTLE | 2026-03-02 | [The U.S.-Iran War Has Hit Cattle. How Much Lower Will Prices Go?](https://feedsoft.ai/events/5732-the-u-s-iran-war-has-hit-cattle-how-much-lower-will-prices-go.md) | +0.1% | +1.7% |
| LCATTLE | 2023-07-24 | [After the Bell \| July 24, 2023 - Pro Farmer](https://feedsoft.ai/events/11935-after-the-bell-july-24-2023-pro-farmer.md) | -0.0% | +0.0% |
| LCATTLE | 2022-05-31 | [Market Closes - May 31, 2022 - Kentucky Farm Bureau](https://feedsoft.ai/events/6237-market-closes-may-31-2022-kentucky-farm-bureau.md) | -0.1% | +3.5% |
| LCATTLE | 2026-03-09 | [Grains Retreat Following Energies, See Farmer Selling: Cattle Plunge - AgWeb](https://feedsoft.ai/events/10387-grains-retreat-following-energies-see-farmer-selling-cattle-plunge-agweb.md) | -1.4% | +3.3% |

## Sources

- profarmer.com: https://www.profarmer.com/news/after-bell/after-bell-october-3-2023
- profarmer.com: https://www.profarmer.com/news/after-bell/after-bell-october-4-2023

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