# UT Commodity Market Update 3/16/2018 | UT Crops News

> May corn futures declined about 5 cents over the week after hitting a seven-month high, while soybeans gained on the week. Corn exports were strong, with weekly sales of 103 million bushels, and Rosario in Argentina cut that country's soybean crop estimate by 14%. Wheat futures for July fell about 19 cents on better weather forecasts and strong Russian exports.

- Date: 2018-03-16 · published 2018-03-16T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/8013-ut-commodity-market-update-3-16-2018-ut-crops-news
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Argentina's smaller soybean crop tightens global soymeal and oil supplies and supports prices. Strong U.S. corn export demand supports feed grain values, while Russian competition weighs on U.S. wheat.

## Read by commodity

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

## Sources

- news.utcrops.com: https://news.utcrops.com/2018/03/ut-commodity-market-update-3-16-2018/

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