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Corn, soybeans and wheat all closed lower on May 2 in a broad selloff that also hit cattle, energy and US equities on recession worries. Crude oil fell more than 5% to about $71 per barrel, and July corn and soybean futures dropped about 1% and 1.25%.
Weaker crude and broad risk aversion lower the cost of energy and fuel inputs while pulling feed grain prices down. Seasonal planting pressure adds to the bearish tone for feed grains.
feedstuffs.comBen PotterMay 2, 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.
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.
