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A fact check found that the soybean and corn price drop was not caused by President Biden's executive orders, as claimed on social media. The orders signed in that period mostly addressed the coronavirus pandemic.
Analysts attributed the selloff to markets being due for a correction.
The price decline reflected a normal market correction rather than a policy shift, so the fundamental outlook for soybeans and corn is unchanged. Traders should not expect a policy-driven trend from this episode.
factcheck.afp.comJan 23, 2021Not 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.
