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Grain markets closed the second week of March lower as the complex sold off alongside oil and equities. May soybeans fell to new contract lows on demand fears and better South American weather.
The March WASDE report made almost no changes to US balance sheets, though it trimmed price forecasts and adjusted South American soybean estimates.
Weak demand expectations and the lack of a bullish USDA surprise keep downward pressure on grain futures, with South American crop prospects weighing on soybeans.
realagriculture.comBrennan TurnerMar 14, 2020Not enough comparable past events yet for a historical read.
Not 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.
Weekly wrap shows May soybeans hitting new contract lows as the complex sold off with oil and equities on demand fears, directly describing the week ending the move.
The week's grain selloff alongside oil and equities shows corn moving with broad market weakness.
