# Agri Marketing Update

> Grain and soybean futures fell sharply in late August 2016 as abundant US and global supplies weighed on the market. Wheat led the decline, hitting a new 10-year low on a huge Russian crop, and corn also fell to contract lows. Live cattle slid after a larger-than-expected cold storage beef inventory and the August Cattle-on-Feed report, and a stronger dollar on Fed rate-hike signals added pressure.

- Date: 2016-08-29 · published 2016-08-29T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/8596-agri-marketing-update
- Commodities: [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A large Russian wheat crop and ample US corn and soybean supplies push grain prices lower. A firmer dollar also weakens US commodity competitiveness in export markets.

## Read by commodity

- DXY: bullish ▲
- SOY: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼
- LCATTLE: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2016-08-31 | 5 | -7.5% | -2.8 | Late-August 2016 grain selloff on abundant US and global supplies, with corn hitting contract lows, wheat at 10-year lows, and a stronger dollar on Fed rate-hike signals, directly explains the 5-day decline. |
| LCATTLE | 2016-09-01 | 1 | -3.8% | -3.8 | Late-August bearish fundamentals (larger cold storage beef inventory, Cattle-on-Feed report, stronger dollar) set up the weak sentiment that fed the selloff. |

## Sources

- agrimarketing.com: https://www.agrimarketing.com/newsletter/index.php?archived=2016-08-29

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