# Perspective: Mid-Day Commentary for May 2

> Midday commentary cited Fed-week nerves, a VIX near 34, a strong dollar near 19-year highs and 10-year Treasury yields near 2.99%. Grains and oilseeds came under pressure from improved weather forecasts, with USDA expected to confirm spring wheat planting delays. Crude oil erased earlier losses.

- Date: 2022-05-02 · published 2022-05-02T12:00:00.000Z
- Category: macro · region US · magnitude low
- Page: https://feedsoft.ai/events/5844-perspective-mid-day-commentary-for-may-2
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A stronger dollar and rising yields weigh on commodities broadly, while spring wheat planting delays could cut acreage and support Minneapolis wheat prices.

## Read by commodity

- DXY: bullish ▲
- SOY: bearish ▼
- WTI: neutral
- CORN: bearish ▼
- WHEAT: bullish ▲
- KWHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| CORN | 2022-05-02 | 1 | -7.7% | -5.8 | Midday commentary links grain pressure to improved weather forecasts, a strong dollar near 19-year highs and risk-off nerves ahead of the Fed, which are currency and sentiment factors. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2022-08-25 | [Perspective: Mid-Day Commentary for August 25](https://feedsoft.ai/events/5143-perspective-mid-day-commentary-for-august-25.md) | +0.3% | +2.5% |
| DXY | 2026-03-01 | [COMMENTARY: Specter of Warsh Fed sparks precious metals 'debasement' crash](https://feedsoft.ai/events/20507-commentary-specter-of-warsh-fed-sparks-precious-metals-debasement-crash.md) | +1.4% | +2.6% |
| DXY | 2024-12-19 | [Market Perspectives - December 19, 2024 - U.S. Grains & BioProducts Council](https://feedsoft.ai/events/11563-market-perspectives-december-19-2024-u-s-grains-and-bioproducts-council.md) | +0.5% | +1.4% |
| DXY | 2022-11-14 | [Dollar Rises Against Euro and Yen Following Fed Commentary](https://feedsoft.ai/events/38896-dollar-rises-against-euro-and-yen-following-fed-commentary.md) | -0.7% | -1.6% |
| DXY | 2023-10-03 | [Oil drops for fourth consecutive day on macroeconomic concerns  \| The National](https://feedsoft.ai/events/7915-oil-drops-for-fourth-consecutive-day-on-macroeconomic-concerns-the-national.md) | -0.1% | +0.6% |
| CORN | 2022-10-31 | [What Does A Central Bank Pivot Mean For Commodity Prices? \| FXEmpire](https://feedsoft.ai/events/39038-what-does-a-central-bank-pivot-mean-for-commodity-prices-fxempire.md) | -2.2% | -3.8% |
| CORN | 2022-09-26 | [Commodity prices down last week amid hawkish monetary policies, recession fears](https://feedsoft.ai/events/11907-commodity-prices-down-last-week-amid-hawkish-monetary-policies-recession-fears.md) | -1.4% | +2.6% |
| CORN | 2018-02-01 | [No bull market ahead for commodities, Wells Fargo says](https://feedsoft.ai/events/66409-no-bull-market-ahead-for-commodities-wells-fargo-says.md) | +0.6% | +2.1% |

## Sources

- stonex.com: https://www.stonex.com/en-us/insights/perspective-mid-day-commentary-for-may-2-2022-05-02/

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