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Grain futures were mostly lower on May 9, 2019, with Chicago, Kansas and Minneapolis wheat, corn and soybeans all down, while the US dollar strengthened. The market was quiet ahead of the USDA May WASDE report, where traders expected cuts to US corn and wheat production from wet weather and possible lower soybean export demand from African swine fever.
Ahead of the report, traders are positioning for tighter US corn and SRW wheat supplies, but a stronger dollar and lower export demand for soybeans weigh on prices. The outcome of the USDA report will determine the near-term direction.
graincentral.comGuest AuthorMay 9, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
