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During the week of November 2–8, U.S. market attention focused on the midterm elections, hopes for an end to the Iran war, and uneven export demand. China said additional purchases of U.S. farm goods depended on both sides implementing their reciprocal tariff-cut agreement; USDA also announced a 1.73-million-ton corn sale to Mexico, while traders awaited the November crop report.
The large Mexican purchase supports U.S. corn demand, while the tariff condition leaves the outlook for broader Chinese buying uncertain and may keep soybean trade flows divided between the U.S. and Brazil. Hopes for an Iran-war resolution weighed on crude oil, potentially easing energy costs for feed and farm supply chains.
wrightonthemarket.comWright teamNov 8, 2026After 729 past bullish trade events, Corn moved a median +0.4% over 5 sessions (56% higher; middle half -1.1% to +1.8%), and +0.5% over 20.
After 250 past neutral trade events, Soybeans moved a median +0.0% over 5 sessions (50% higher; middle half -1.4% to +1.6%), and -0.2% over 20.
After 375 past bearish trade events, Wheat (SRW) moved a median -0.2% over 5 sessions (47% higher; middle half -2.0% to +1.1%), and -0.1% over 20.
After 80 past bearish trade events, Crude Oil (WTI) moved a median -2.2% over 5 sessions (30% higher; middle half -6.9% to +0.8%), and -1.5% 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.
