# Daily Market Wire 19 January 2022 - Grain Central

> U.S. wheat futures rose 3 to 4 percent after the long weekend, while canola closed lower and soybean meal fell almost 4 percent. A crop consultant cut his Brazilian soybean estimate by 1 million tonnes to 134 Mt because of irregular rain in Parana and Rio Grande do Sul.

- Date: 2022-01-19 · published 2022-01-19T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/7368-daily-market-wire-19-january-2022-grain-central
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

The Brazilian soybean cut supports soybeans and meal, but lower meal prices show weak demand. Wheat gains reflect a risk premium on a U.S. crop that came out of dormancy in poor condition.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- CORN: bullish ▲
- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| SBM | 2022-01-21 | 5 | -9.7% | -3.5 | Soybean meal fell almost 4% in a single session on Jan 19 as rain eased South American supply worries, directly driving the weekly decline. |

## Sources

- graincentral.com: https://www.graincentral.com/markets/daily-market-wire-19-january-2022/

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