# Market Closes - May 1, 2017 - Kentucky Farm Bureau

> CBOT wheat, led by KC, rallied sharply on speculative short-covering after weekend flooding, heavy snow and freezing temperatures. Corn planting was at 34% and spring wheat only 31% planted versus a 46% average. Cattle futures closed mostly lower after opening higher, with Choice cutout up modestly.

- Date: 2017-05-01 · published 2017-05-01T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/10483-market-closes-may-1-2017-kentucky-farm-bureau
- Commodities: [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Live Cattle](https://feedsoft.ai/c/LCATTLE.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Weather damage to wheat and delayed planting raise expectations of tighter feed grain supplies, supporting corn and wheat prices. Cattle weakness on corn strength shows feed cost pressure on the livestock complex.

## Read by commodity

- SOY: bearish ▼
- CORN: bullish ▲
- WHEAT: bullish ▲
- KWHEAT: bullish ▲
- LCATTLE: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2017-05-01 | 1 | +1.9% | 3.4 | May 1 close report: wheat rallied on speculative short-covering after weekend flooding and snow, with corn planting at 34% and lifting corn in sympathy, matching the date of the move. |

## Sources

- kyfb.com: https://www.kyfb.com/federation/newsroom/market-closes-may-1-2017/
- kyfb.com: https://www.kyfb.com/federation/newsroom/market-closes-may-2-2017/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.