Loading…
Spot CME corn, soybeans, wheat, soybean meal and soybean oil all fell in October, with corn down 10.6% after higher-than-expected stocks and a larger October yield estimate. Wheat dropped 10.7% and soymeal fell 9.1%, with heavy fund liquidation from record long positions adding pressure.
Soybeans declined 2.7%, and losses continued at the start of November.
Expectations of a record U.S. crop and a favorable South American start weigh on oilseed and meal values, which lowers feed-ingredient costs for buyers. Fund selling has added momentum, so near-term pressure may persist until positioning clears.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
