Debt-limit concerns now have a new opponent, June weather May 31, 2023
We'll call today's trade on the July contract, from -25 3/4 cents at one point, to a positive close of +3 1/4, as positive. Though November did post a rebound from morning lows the close was not as positive, -6 3/4. Both contracts pushed to new contract lows. The November posted a new low-close. Energy prices, with an eye on debt ceiling talks, are a problem. US buyers picked up two cargoes of Brazilian soybeans. General concerns over export sales and an aggressive planting remain.
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