Grains end on a high note ahead of Christmas December 23, 2021
For what is normally a quiet week, the 52 1/4 cent rally this week was a surprise. Soybean futures put in new highs for the uptrend today and also posted a new high-close for this trend. This week was also important as we recovered over 50% of the losses from the prior long term downtrend. The bear argument has been based on trend yields for Brazil and Argentina. For now, as we approach January where weather has an impact on final yields, that is not in the forecast. Outside markets also ended the week on a positive note.
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