# Ahead of the Open | June 15, 2022 - Pro Farmer

> Pro Farmer reported nearby soybean futures near a two-week low, with corn and wheat also lower on recession concerns. Malaysian palm oil fell over 3 percent to a 2.5-month low. USDA confirmed cancellation of 100,000 tonnes of soybean sales to unknown destinations, and the Federal Reserve was expected to announce a 75 basis-point rate hike. Extreme Midwest heat was forecast to continue.

- Date: 2022-06-15 · published 2022-06-15T12:00:00.000Z
- Category: macro · region US · magnitude medium
- Page: https://feedsoft.ai/events/7221-ahead-of-the-open-june-15-2022-pro-farmer
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A likely large Fed rate hike and recession worries strengthen the dollar and weigh on commodity demand, while Midwest heat adds weather risk to corn and soybean crops, leaving price direction mixed.

## Read by commodity

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

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2023-08-15 | [After the Bell \| August 15, 2023 - Pro Farmer](https://feedsoft.ai/events/5613-after-the-bell-august-15-2023-pro-farmer.md) | -1.5% | -4.3% |
| SOY | 2021-09-20 | [After the Bell \| September 20, 2021 - Pro Farmer](https://feedsoft.ai/events/6378-after-the-bell-september-20-2021-pro-farmer.md) | +0.1% | -5.2% |
| SOY | 2019-06-04 | [4 June 2019 \| Minutes of the Monetary Policy Meeting of the Board \| RBA](https://feedsoft.ai/events/11310-4-june-2019-minutes-of-the-monetary-policy-meeting-of-the-board-rba.md) | -2.3% | +0.7% |
| SOY | 2023-01-17 | [China's 2022 economic growth one of the worst on record, post-pandemic policy faces test \| Reuters](https://feedsoft.ai/events/37986-china-s-2022-economic-growth-one-of-the-worst-on-record-post-pandemic-policy.md) | -3.1% | +0.3% |
| SOY | 2021-12-01 | [Factors Expected to Drive the 2022 Corn Market](https://feedsoft.ai/events/44073-factors-expected-to-drive-the-2022-corn-market.md) | +2.7% | +11.4% |
| CORN | 2023-08-15 | [After the Bell \| August 15, 2023 - Pro Farmer](https://feedsoft.ai/events/5613-after-the-bell-august-15-2023-pro-farmer.md) | -0.9% | -1.3% |
| CORN | 2021-09-20 | [After the Bell \| September 20, 2021 - Pro Farmer](https://feedsoft.ai/events/6378-after-the-bell-september-20-2021-pro-farmer.md) | -4.3% | -4.1% |
| CORN | 2019-06-04 | [4 June 2019 \| Minutes of the Monetary Policy Meeting of the Board \| RBA](https://feedsoft.ai/events/11310-4-june-2019-minutes-of-the-monetary-policy-meeting-of-the-board-rba.md) | -0.7% | -0.2% |

## Sources

- profarmer.com: https://www.profarmer.com/news/ahead-open/ahead-open-june-15-2022

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