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Grain and oilseed markets traded mostly higher on May 2, with soymeal demand lifting soybeans and corn gaining on positive money flow. Hard wheat added weather premium while Chicago soft red winter wheat eased.
Cattle futures rallied after USDA found no bird flu virus in tested ground beef.
Routine intraday strength in soymeal and hard wheat reflects short-term demand and weather positioning rather than a new supply shock. The cattle rally follows removal of a food-safety scare that had weighed on demand.
stonex.comArlan SudermanMay 2, 2024Not 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.
