Soy Fund Slips 0.51% as Wheat Fund Falls 0.74% | Grains, Oct 13
The SOYB soybean fund fell 0.51% to US$27.33 on Tuesday 13 October and the WEAT wheat fund 0.74%, while the CORN fund rose 0.11% to US$18.48. The post Soy Fund Slips 0.51% as Wheat Fund Falls 0.74% | Grains, Oct 13 appeared first on The Rio Times .
On Tuesday, October 13, grain funds experienced mixed results. The SOYB fund, tracking soybean futures, slipped 0.51% to US$27.33, marking the second consecutive decline. The WEAT wheat fund experienced a decrease of 0.74% to US$24.28, while the CORN fund gained 0.11% to US$18.48. The broader DBA agriculture fund showed minimal change.
There was no apparent single factor driving the fluctuations, as there were no scheduled USDA crop or export-sales releases for the day. Brazil and Argentina, both major soybean exporters, compete with US farmers for buyers in China and other markets. A weaker US soy price may impact farm incomes in these countries, but small moves in opposite directions suggest the market is anticipating more news.
The dollar index fell 0.36% to 102.2, and a weaker dollar often benefits US farm exports, yet the funds did not react accordingly. The situation highlights a market waiting to react to new developments. Soybeans have fallen for two days in a row, with the fund's value falling from US$27.53 on Friday to US$27.33, resulting in a 0.73% loss.
While corn was the only fund to rise. The SOYB, CORN, and WEAT funds are US-listed proxies for grain futures, not the actual cash prices farmers receive.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
