# Market Closes - April 29, 2019 - Kentucky Farm Bureau

> Grain futures hit contract lows on April 29 with soybeans, soybean meal and wheat falling, while corn ended higher. USDA extended the MFP payment certification deadline to May 17, and the CFTC showed speculators record short corn and soybean positions.

- Date: 2019-04-29 · published 2019-04-29T12:00:00.000Z
- Category: market · region US · magnitude medium
- Page: https://feedsoft.ai/events/4626-market-closes-april-29-2019-kentucky-farm-bureau
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md)

## Why it matters

Heavy fund short positions in corn and soybeans create short-covering risk, while wet planting weather and weak wheat and soymeal prices point to ample feed supply.

## Read by commodity

- SBM: bearish ▼
- SOY: bearish ▼
- CORN: neutral
- WHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2019-04-29 | 1 | -3.1% | -3.3 | Reports wheat falling to contract lows on April 29 amid record speculator short positions, directly describing the day's move. |

## Sources

- kyfb.com: https://www.kyfb.com/federation/newsroom/market-closes-april-29-2019/

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