# Market Update for Oct. 2, 2017

> Corn and soybean futures sold off after rallying on Friday's stocks report. Barge rates surged on the river system as low water on the Illinois River affected basis, and Chinese markets were closed all week.

- Date: 2017-10-02 · published 2017-10-02T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/7536-market-update-for-oct-2-2017
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Barge Freight (St. Louis)](https://feedsoft.ai/c/BARGE.md)

## Why it matters

Higher barge freight and weak basis reduce the net price farmers receive and slow exports, which pressures cash grain values. Routine profit-taking after the report rally also weighs on futures.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- BARGE: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2017-10-02 | 1 | +3.1% | 4.2 | Describes futures selling off on Oct. 2 after the Friday rally, and barge rate spikes pressuring basis, which is directly relevant to the day's price move. |

## Sources

- farmprogress.com: https://www.farmprogress.com/marketing/market-update-for-oct-2-2017

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