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Chicago grains rose on Wednesday as the dollar weakened after the US midterm election results, while crude oil fell more than 8% during the session. Soybeans and soyoil closed lower, with soyoil down about 2%, as the US harvest advanced.
The January 2027 soybean contract fell 11.75 cents to $12.02 per bushel, while December SRW wheat dropped 1.25 cents to $5.99 and December corn gained 1.75 cents to $4.44.
Lower crude weakens the ethanol and biodiesel margins that support corn and soybean oil demand, while a weaker dollar makes US exports more competitive abroad. Soybeans are pressured by harvest progress and oil's decline, while corn benefits from the currency move.
terre-net.frMarius GarrigueNov 5, 2026After 273 past bearish macro events, Soybeans moved a median -0.4% over 5 sessions (44% higher; middle half -2.4% to +1.4%), and -0.5% over 20.
After 69 past bearish macro events, Wheat (SRW) moved a median -0.5% over 5 sessions (35% higher; middle half -2.6% to +0.8%), and -0.7% over 20.
After 151 past bullish macro events, Corn moved a median +0.2% over 5 sessions (57% higher; middle half -0.9% to +1.4%), and -0.3% over 20.
After 565 past bearish macro events, Crude Oil (WTI) moved a median -1.4% over 5 sessions (41% higher; middle half -5.9% to +3.0%), and -0.5% over 20.
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.
