Loading…
Grain prices fell sharply on March 16 as algorithmic trading reacted to reports of progress in Russia-Ukraine peace talks, with wheat hitting daily limit lows on several exchanges. Corn followed lower, while oilseeds fell less because of drought-reduced South American crops.
Feeder cattle futures rose as cheaper feed prices improved the outlook.
The selloff reflects headline-driven trading, while the supply shortfall from the war persists. Cheaper grain eases feed costs for cattle feeders, which supports feeder cattle demand.
stonex.comArlan SudermanMar 16, 2022After 80 past bearish geopolitics events, Wheat (SRW) moved a median -0.4% over 5 sessions (44% higher; middle half -1.4% to +1.9%), and -0.5% over 20.
After 87 past bearish geopolitics events, Corn moved a median +0.1% over 5 sessions (51% higher; middle half -1.5% to +2.1%), and +0.3% over 20.
After 14 past geopolitics events, Feeder Cattle moved a median +0.1% over 5 sessions (57% higher; middle half -1.0% to +2.8%), 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.
