Soy Fund Slips 0.51% as Wheat Fund Gains 0.49% | Grains, Oct 14
Key Facts
- The Teucrium Soybean fund fell 0.51% to US$27.19 on Wednesday 14 October, and the Corn fund fell 0.32% to US$18.42.
- The Teucrium Wheat fund rose 0.49% to US$24.40, making wheat the only one of the three to gain.
- Bunge rose 1.26% to US$108.91 and ADM 0.53% to US$83.64, the two big US-listed grain traders with large Latin American operations.
- We found no scheduled US grain report on the day, so the moves reflect trading rather than a data release.
Today’s Focus
Grain funds were mixed on Wednesday 14 October. The soybean fund slipped 0.51% and the corn fund 0.32%, while the wheat fund gained 0.49%.
Bunge rose 1.26% and ADM 0.53%, the big traders that buy and ship Latin American crops.
We have no live futures feed for grains, so funds and traders are the proxies.
What matters today. Brazil and Argentina are among the world’s top soybean and corn exporters, so grain prices drive their export income and the real and the peso.
01 The session in one read
The soybean and corn funds slipped, while wheat edged up. The moves were small compared with metals.
The broad DBA agriculture fund fell 0.60% to US$28.26.
Moves were small and mixed, with no report to explain them. Traders rose while crop funds slipped.
The variable to watch is the dollar, because it can change export prices quickly.
02 The board
| Asset | Level | Change |
|---|---|---|
| Soybeans (SOYB fund) | US$27.19 | -0.51% |
| Corn (CORN fund) | US$18.42 | -0.32% |
| Wheat (WEAT fund) | US$24.40 | +0.49% |
| Agriculture (DBA fund) | US$28.26 | -0.60% |
| Bunge (NYSE) | US$108.91 | +1.26% |
| ADM (NYSE) | US$83.64 | +0.53% |
The board shows dollar-listed funds, which hold futures and may differ from cash prices. We could not confirm the CBOT futures settlements from a reliable source.
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Latin America — Cross-Market Board
| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 206,505.98 | -0.18% | +21.85% | 206,887.52 | 168,310 | 167,142 | — |
| IPSA | 10,966.21 | -0.49% | — | 11,020.01 | 11,210 | 10,984 | 1,513,213,483 |
| IPC MEX | 66,659.01 | -0.46% | +12.17% | 66,965.15 | 66,121 | 65,405 | 108,886,187 |
| MERVAL | 2,835,843 | -1.16% | +30.51% | 3,022,485 | 3,042,365 | 2,991,150 | — |
| COLCAP | 2,582.29 | +0.46% | — | 9.04 | 9.05 | 9.02 | 4,133 |
| BVL PERÚ | 60,511.74 | -1.60% | — | — | — | — | — |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
| EUR/BRL | 5.95 | +1.01% | -5.83% | 5.89 | 5.98 | 5.94 | — |
| USD/MXN | 17.06 | -0.24% | -8.58% | 17.10 | 17.08 | 17.01 | — |
| USD/CLP | 913.98 | +0.04% | -5.67% | 913.65 | 915.11 | 906.68 | — |
| USD/COP | 3,140 | +0.03% | -22.04% | 3,139 | 3,141 | 3,105 | — |
| USD/PEN | 3.36 | -0.66% | -4.82% | 3.38 | 3.38 | 3.35 | — |
| USD/ARS | 1,493 | +0.10% | +12.96% | 1,491 | 1,494 | 1,480 | — |
| USD/UYU | 40.27 | +1.24% | +1.80% | 39.77 | 40.27 | 40.23 | — |
| USD/PYG | 5,939 | +1.68% | -19.54% | 5,841 | 5,939 | 5,925 | — |
| USD/BOB | 11.64 | -0.76% | +72.04% | 11.73 | 11.72 | 11.64 | — |
| USD/DOP | 58.34 | +1.25% | -3.44% | 57.62 | 58.34 | 58.04 | — |
| USD/CRC | 445.92 | +0.89% | -9.71% | 441.97 | 448.50 | 445.92 | — |
03 What moved it
The US consumer price index rose 0.6% in September and 3.7% over twelve months, above the 3.6% forecast, the Bureau of Labor Statistics said. A stronger dollar makes US grain dearer for foreign buyers.
Our economic calendar showed no US Department of Agriculture report on the day, so we do not name a single driver.
04 The Latin American read
Brazil is the world’s largest soybean exporter, and Argentina is a leading exporter of soy meal and corn. Brazil’s real was almost unchanged at about 5.03 per dollar.
Argentina’s Merval fell 1.2%, and YPF, an energy stock, rose 0.89%.
05 The names to watch
Bunge and ADM trade crops across the Americas. Deere rose 0.06% to US$650.38 and signals farm-equipment demand.
The Teucrium funds hold futures contracts for each crop.
06 The outlook
The next signals are US export sales and weather in South America. A stronger dollar would keep pressure on US exports.
What it means for you: grain prices feed food costs and Latin American export income, so the dollar and harvest weather are the variables to follow.
07 What to watch
- Export sales: Weekly US export data will show the pace of demand.
- South American weather: Planting conditions in Brazil and Argentina drive the next crop.
- The dollar: A further rise would weigh on US grain exports.
- US data: US retail sales on Thursday 15 October at 12:30 UTC.
Background: Soy Fund Slips 0.51% as Wheat Fund Falls 0.74%.
Background: Brazil Stocks Drop 1.04% as Poll Shows a Tie.
More: Latin America news in English, every day from The Rio Times.
Frequently Asked Questions
Why did soybeans fall on 14 October?
The Teucrium Soybean fund slipped 0.51% to US$27.19 in a day without a scheduled US grain report.
Did wheat rise or fall?
The Teucrium Wheat fund rose 0.49% to US$24.40.
How did Bunge and ADM do?
Bunge rose 1.26% to US$108.91 and ADM 0.53% to US$83.64.
Why do grains matter to Latin America?
Brazil and Argentina are leading exporters of soy and corn, so prices affect their trade and currencies.
Market data: RT; US inflation: US Bureau of Labor Statistics; China data: National Bureau of Statistics and customs
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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