# Grains caught in selloff crossfire

> 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%.

- Date: 2023-05-02 · published 2023-05-02T12:00:00.000Z
- Category: market · region US · magnitude low
- Page: https://feedsoft.ai/events/5161-grains-caught-in-selloff-crossfire
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

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.

## Read by commodity

- SOY: bearish ▼
- WTI: bearish ▼
- CORN: bearish ▼
- WHEAT: bearish ▼

## Sources

- feedstuffs.com: https://www.feedstuffs.com/market-news/grains-caught-in-selloff-crossfire

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