# Wheat pulls back from recent highs - Brownfield Ag News

> Soybeans fell modestly on fund and technical selling, while soybean meal weakened and bean oil rose on product spread adjustments. Corn was mixed, and ethanol futures fell, with no USDA daily sales announced since the US-China Phase One trade deal was signed.

- Date: 2020-01-23 · published 2020-01-23T12:00:00.000Z
- Category: trade · region US · magnitude low
- Page: https://feedsoft.ai/events/8052-wheat-pulls-back-from-recent-highs-brownfield-ag-news
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Corn](https://feedsoft.ai/c/CORN.md), [DDGS](https://feedsoft.ai/c/DDGS.md)

## Why it matters

Lack of confirmed Chinese purchases keeps soybean demand uncertain until South American supplies arrive, while Brazilian planting delays and dry Argentine conditions limit losses.

## Read by commodity

- SBM: bearish ▼
- SBO: bullish ▲
- SOY: bearish ▼
- CORN: neutral
- DDGS: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SOY | 2016-07-19 | [Soybeans, corn, wheat give back gains - Brownfield Ag News](https://feedsoft.ai/events/7423-soybeans-corn-wheat-give-back-gains-brownfield-ag-news.md) | -8.8% | -5.1% |
| SOY | 2018-09-14 | [Wheat manages week to week gains - Brownfield Ag News](https://feedsoft.ai/events/63071-wheat-manages-week-to-week-gains-brownfield-ag-news.md) | +3.3% | +4.3% |
| SOY | 2023-05-17 | [Another down day for soybeans, corn, wheat - Brownfield Ag News](https://feedsoft.ai/events/5017-another-down-day-for-soybeans-corn-wheat-brownfield-ag-news.md) | -3.0% | +1.8% |
| SOY | 2024-05-16 | [Soybeans, corn, wheat continue mostly lower trend - Brownfield Ag News](https://feedsoft.ai/events/10512-soybeans-corn-wheat-continue-mostly-lower-trend-brownfield-ag-news.md) | +2.7% | -2.0% |
| SOY | 2016-08-31 | [Soybeans hit new multi-month lows - Brownfield Ag News](https://feedsoft.ai/events/12396-soybeans-hit-new-multi-month-lows-brownfield-ag-news.md) | +2.7% | -2.1% |
| SBM | 2016-07-19 | [Soybeans, corn, wheat give back gains - Brownfield Ag News](https://feedsoft.ai/events/7423-soybeans-corn-wheat-give-back-gains-brownfield-ag-news.md) | -9.1% | -9.0% |
| SBM | 2018-09-14 | [Wheat manages week to week gains - Brownfield Ag News](https://feedsoft.ai/events/63071-wheat-manages-week-to-week-gains-brownfield-ag-news.md) | +0.0% | +0.5% |
| SBM | 2018-12-07 | [Wheat leads on new export demand - Brownfield Ag News](https://feedsoft.ai/events/61612-wheat-leads-on-new-export-demand-brownfield-ag-news.md) | -0.2% | +2.6% |

## Sources

- brownfieldagnews.com: https://brownfieldagnews.com/news/wheat-pulls-back-from-recent-highs-2/

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