# Nov 02 | Closing Market Report

> An Illinois Extension market broadcast discussed the recent downturn in crop and crude oil prices. The analyst noted soybeans are supported by strong crush demand while corn and wheat struggle to find positive signals. The episode also covered Midwest harvest-slowing rains and dry conditions affecting Indonesian palm oil.

- Date: 2026-11-02 · published 2026-11-03T00:05:43.847Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/76364-nov-02-closing-market-report
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

Strong crush demand supports soybean meal and oil, while Indonesian dryness could tighten palm oil supply and support vegetable oil prices for feed buyers.

## Read by commodity

- SBM: bullish ▲
- SOY: neutral
- WTI: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼
- PALMOIL: bullish ▲

## Sources

- extension.illinois.edu: https://extension.illinois.edu/podcasts/closing-market-report/nov-02-closing-market-report-1
- will.illinois.edu: https://will.illinois.edu/closingmarketreport/program/cmr261102

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