Soybeans Back to Flat, Other Grains Slide Deep Into the Red

Pressure from outside financial markets pushed grains traders over the edge before the 5:00 am closing time. Soybeans have given up all their gains, and both corn and wheat are deep into the red. With the stock markets sliding fast, grain traders have liquidated their positions in defensiveness. This chart for corn is symbolic of the sector and show significant selling overnight, with wheat appearing similar. Soybeans, since my last post, have declined to breakeven (see chart below). If stocks drop forcefully, no one will want to hold onto grains over fear of slackening demand.