# Grain and Oilseeds Spiral Lower

> Grain and oilseed futures continued to decline, with only brief short-covering rallies. Record South American corn and soybean crops, weak Chinese buying and USDA forecasts of record US yields point to large carryout stocks.

- Date: 2024-02-26 · published 2024-02-26T12:00:00.000Z
- Category: report · region US · magnitude medium
- Page: https://feedsoft.ai/events/8025-grain-and-oilseeds-spiral-lower
- 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

Expectations of record supplies and large 2024/25 stocks-to-use ratios keep downward pressure on corn, soybean and wheat prices. Tighter Fed policy adds to the bearish outlook.

## Read by commodity

- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2024-02-26 | 1 | -3.9% | -4.0 | Describes continued grain and oilseed futures declines on record South American crops, weak Chinese buying and large expected US carryout, a bearish sentiment and supply backdrop that fed the selloff. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2017-07-31 | [Grains And Oilseeds in Brief](https://feedsoft.ai/events/69816-grains-and-oilseeds-in-brief.md) | -1.3% | -8.0% |
| CORN | 2017-01-01 | [GRAINS AND OILSEEDS OUTLOOK FOR 2017](https://feedsoft.ai/events/72861-grains-and-oilseeds-outlook-for-2017.md) | +0.3% | +2.3% |
| CORN | 2019-02-01 | [U.S. grains: Corn, soy end lower on technical selling - Grainews](https://feedsoft.ai/events/60632-u-s-grains-corn-soy-end-lower-on-technical-selling-grainews.md) | -0.3% | -0.8% |
| CORN | 2024-02-25 | [Wheat, feed grains and oilseeds prices under pressure as global supply builds \| Queensland Country Life \| QLD](https://feedsoft.ai/events/8028-wheat-feed-grains-and-oilseeds-prices-under-pressure-as-global-supply-builds.md) | +0.5% | +7.8% |
| CORN | 2024-09-30 | [Argentina to harvest 143.2 million tonnes of grains and oilseeds - Fastmarkets](https://feedsoft.ai/events/13901-argentina-to-harvest-143-2-million-tonnes-of-grains-and-oilseeds-fastmarkets.md) | +1.0% | -0.6% |
| SOY | 2024-10-21 | [Grain market review: Oilseeds \| World Grain](https://feedsoft.ai/events/11145-grain-market-review-oilseeds-world-grain.md) | +1.8% | +2.9% |
| SOY | 2017-02-01 | [Federal forecast sees more oilseed acres, less in grains - AgCanada](https://feedsoft.ai/events/72457-federal-forecast-sees-more-oilseed-acres-less-in-grains-agcanada.md) | +1.8% | +1.6% |
| SOY | 2021-02-19 | [North American Grain and Oilseed Review: Canola rises independently](https://feedsoft.ai/events/48743-north-american-grain-and-oilseed-review-canola-rises-independently.md) | +2.3% | +1.3% |

## Sources

- dtnpf.com: https://www.dtnpf.com/agriculture/web/ag/blogs/fundamentally-speaking/blog-post/2024/02/26/grain-oilseeds-spiral-lower

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