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Soybeans and corn fell sharply on fund and technical selling, with soybean oil down after a technical reversal. China's economic slowdown, Golden Week holidays and COVID lockdowns raised demand concerns.
USDA data showed a record March soybean crush of 193 million bushels.
Slowing Chinese demand and COVID-related port delays weigh on export expectations, while record domestic crush supports soybean meal balances. Price direction is mixed between demand fears and strong fundamentals.
brownfieldagnews.comMay 2, 2022Not 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.
Reports corn falling sharply on May 2 on fund and technical selling plus China demand concerns (lockdowns, economic slowdown), which are sentiment and demand drivers.
