# Market Closes - May 3, 2016 - Kentucky Farm Bureau

> CBOT futures sold off after the open as a strengthening US dollar reversed a two-month downtrend. Soybeans and corn showed bearish technical signals, though estimated production losses in Argentina soybeans and Brazil corn offered fundamental support. Kansas City wheat neared its contract low and cattle futures rose on short covering.

- Date: 2016-05-03 · published 2016-05-03T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/4170-market-closes-may-3-2016-kentucky-farm-bureau
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

Argentine soybean and Brazilian corn crop losses support feed grain prices, but a firmer dollar and fund selling offset that support in the near term.

## Read by commodity

- DXY: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲
- KWHEAT: bearish ▼

## Sources

- kyfb.com: https://www.kyfb.com/federation/newsroom/market-closes-may-3-2016/

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