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Chicago soybeans fell on May 17, 2023 to their lowest levels in more than seven months, while corn eased and wheat slid 0.6% to $6.43-3/4. Strong U.S. crop prospects and planting progress ahead of average pressured prices.
Weak export demand was compounded by large Brazilian soybean and corn crops.
Record U.S. crop expectations and strong Brazilian competition weaken export demand, pushing soybean, corn and wheat prices lower for buyers and producers alike.
reuters.comNaveen ThukralMay 17, 2023Not 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.
Soybeans fell to a seven-month low on May 17 on strong US crop prospects, fast planting and weak export demand, directly within the window.
