# Daily Market Wire 2 November 2026

> A Grain Central market wire reports NOAA maintains an El Niño Advisory with a strong to very strong event likely through early 2027, with BoM expecting warming to peak around November or December. Wheat posted a ninth consecutive weekly loss, with SRW down 3.44% and MATIF down 2.56% on the week, and managed money is now short.

- Date: 2026-11-02 · published 2026-11-02T03:05:37.870Z
- Category: weather · region Global · magnitude medium
- Page: https://feedsoft.ai/events/74629-daily-market-wire-2-november-2026
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md)

## Why it matters

A strong El Niño raises risk to Brazilian soybean rainfall and next year's Southeast Asian palm oil output, supporting soy and palm oil prices. The continued wheat losses and fund short positioning point to near-term pressure on wheat values.

## Read by commodity

- SOY: bullish ▲
- WHEAT: bearish ▼
- KWHEAT: bullish ▲
- PALMOIL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WHEAT | 2019-05-06 | [Daily Market Wire 6 May 2019 - Grain Central](https://feedsoft.ai/events/7491-daily-market-wire-6-may-2019-grain-central.md) | -5.4% | -9.6% |
| WHEAT | 2017-03-21 | [Daily market wire 22 March 2017 - Grain Central](https://feedsoft.ai/events/10723-daily-market-wire-22-march-2017-grain-central.md) | +1.9% | +1.9% |
| WHEAT | 2024-02-08 | [La Niña in 2024 could drive grain prices: Grain market daily \| AHDB](https://feedsoft.ai/events/31588-la-nina-in-2024-could-drive-grain-prices-grain-market-daily-ahdb.md) | -4.2% | -1.8% |
| WHEAT | 2020-11-24 | [Improved situation for EU winter cereal crops: Grain market daily \| AHDB](https://feedsoft.ai/events/50097-improved-situation-for-eu-winter-cereal-crops-grain-market-daily-ahdb.md) | -1.0% | +8.3% |
| WHEAT | 2023-01-27 | [Dry Bulk Market Under Pressure in Early 2023 \| Sea and Job](https://feedsoft.ai/events/37990-dry-bulk-market-under-pressure-in-early-2023-sea-and-job.md) | +3.5% | +1.8% |
| SOY | 2017-11-19 | [Daily market wire 20 November 2017 - Grain Central](https://feedsoft.ai/events/68031-daily-market-wire-20-november-2017-grain-central.md) | +0.6% | -2.9% |
| SOY | 2025-09-16 | [Daily Market Wire 17 September 2025 - Grain Central](https://feedsoft.ai/events/7569-daily-market-wire-17-september-2025-grain-central.md) | -3.0% | -3.4% |
| SOY | 2017-05-01 | [Daily market wire 2 May 2017 - Grain Central](https://feedsoft.ai/events/6137-daily-market-wire-2-may-2017-grain-central.md) | +1.9% | -2.0% |

## Sources

- graincentral.com: https://www.graincentral.com/markets/daily-market-wire-2-november-2026/
- graincentral.com: https://www.graincentral.com/markets/daily-market-wire-3-november-2026/

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