# Market Closes - May 6, 2019 - Kentucky Farm Bureau

> CBOT futures fell sharply on Sunday night and early Monday after President Trump tweeted that tariffs on Chinese goods would be raised and expanded from Friday. Most markets recovered some losses by the close, and Lean Hogs did not. Corn, soybeans, wheat, meal, oil and cattle all closed lower, and planting progress was well behind normal.

- Date: 2019-05-06 · published 2019-05-06T12:00:00.000Z
- Category: trade · region China · magnitude high
- Page: https://feedsoft.ai/events/7487-market-closes-may-6-2019-kentucky-farm-bureau
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Lean Hogs](https://feedsoft.ai/c/HOGS.md)

## Why it matters

The threat of higher US tariffs on Chinese imports cuts export demand expectations for US grains and soybean products, pushing futures lower. Delayed planting adds some support for later prices.

## Read by commodity

- SBM: bearish ▼
- SBO: bearish ▼
- SOY: bearish ▼
- CORN: bearish ▼
- HOGS: bearish ▼
- WHEAT: bearish ▼

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| WHEAT | 2019-05-06 | 1 | -5.1% | -4.2 | Trump's tariff tweet on Chinese goods hit CBOT futures sharply on May 6, with wheat closing lower, which is a trade-policy sentiment shock on the day of the move. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2018-05-14 | [Market Closes - May 16, 2018 - Kentucky Farm Bureau](https://feedsoft.ai/events/10234-market-closes-may-16-2018-kentucky-farm-bureau.md) | +1.7% | -1.8% |
| CORN | 2019-08-01 | [Market Closes - August 1, 2019 - Kentucky Farm Bureau](https://feedsoft.ai/events/6039-market-closes-august-1-2019-kentucky-farm-bureau.md) | -3.0% | -7.6% |
| CORN | 2018-04-26 | [Market Closes - April 26, 2018 - Kentucky Farm Bureau](https://feedsoft.ai/events/10864-market-closes-april-26-2018-kentucky-farm-bureau.md) | +1.5% | +4.7% |
| CORN | 2019-05-10 | [Grain market week in review - May 10, 2019](https://feedsoft.ai/events/5736-grain-market-week-in-review-may-10-2019.md) | +5.8% | +12.3% |
| CORN | 2018-06-20 | [Tariff Threats Roil Crop Markets \| Farm Bureau Intel Markets \| American Farm Bureau Federation](https://feedsoft.ai/events/10572-tariff-threats-roil-crop-markets-farm-bureau-intel-markets-american-farm-bureau.md) | -0.2% | -1.5% |
| SOY | 2018-05-14 | [Market Closes - May 16, 2018 - Kentucky Farm Bureau](https://feedsoft.ai/events/10234-market-closes-may-16-2018-kentucky-farm-bureau.md) | +0.4% | -4.1% |
| SOY | 2019-08-01 | [Market Closes - August 1, 2019 - Kentucky Farm Bureau](https://feedsoft.ai/events/6039-market-closes-august-1-2019-kentucky-farm-bureau.md) | -1.8% | -1.3% |
| SOY | 2018-04-26 | [Market Closes - April 26, 2018 - Kentucky Farm Bureau](https://feedsoft.ai/events/10864-market-closes-april-26-2018-kentucky-farm-bureau.md) | +0.5% | +1.1% |

## Sources

- kyfb.com: https://www.kyfb.com/federation/newsroom/market-closes-may-6-2019/

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