Soybeans Jump 6 3/4 Cents After USDA Reports 706,634 Tons in New Export Sales

Q: Why is gold, the ultimate safe-haven asset, falling during a massive stock market sell-off?

Gold is falling because, in this sell-off, the market is rewarding cash and yield more than traditional havens. The immediate driver in Friday’s trade is the firmer U.S. dollar. The Dollar Index was up, and gold is priced in dollars, so a stronger greenback makes bullion more expensive for non-U.S. buyers and tends to pressure prices. At the same time, investors are still focused on relatively high interest rates and bond yields. Gold does not pay income, so when rates stay elevated, the opportunity cost of holding it rises. There is also a liquidity effect. In sharp equity declines, investors often sell what they can, not just what they want to. That means gold can be liquidated to raise cash, meet margin calls, or reduce overall risk. This happened in past stress episodes, including 2008 and the 2020 pandemic panic, when gold initially fell before recovering. Positioning matters too. Gold had already surged to record highs earlier in 2026 and remains one of the year’s strongest performers despite recent volatility. After such a run, some investors are taking profits, which can amplify downside moves during broader market stress. So the drop in gold does not necessarily mean it has lost its safe-haven role. It means that, for now, dollar strength, high-rate expectations, and forced selling are outweighing haven demand. Over longer periods, worsening economic or geopolitical stress can still support gold again.

3 articles · Updated · DTN The Progressive Farmer · Jul 17

November soybeans rose 6 3/4 cents and December corn gained 2 cents at Friday's open, with KC wheat up 11 cents as grain and oilseed markets strengthened.
USDA said private exporters sold 706,634 metric tons of 2026/27 soybeans—340,000 to China, 256,634 to Mexico and 110,000 to unknown destinations—supporting the early move.
Livestock trading stayed mixed: August live cattle slipped $0.40, while feeder cattle added $0.18 and lean hogs climbed $0.28 to $100.55.
Broader markets were weaker, with the Dow down about 444 to 467 points and the Nasdaq off 530, while August crude oil rose $2.67 and gold fell $16.90.