May futures finished higher in only one of the five trading days.

• Last Friday’s bullish USDA report did little to help the market. Fundamentals played almost no part in the sell-off.• One exception is an estimated 16.4 million bale Brazilian crop, which, if estimates prove true, would be a new record.• May futures closed at their lowest level in over three weeks, losing 580 points to settle at 93.48 cents per pound.• Total open interest added 5,581 contracts,…