Grains post a minor win for the week. Rebounding crude and US weather are drivers. July 8, 2022
November futures managed to end the week +2 1/4 cents. Let's be honest though, it feels like a victory. The price low back on Wednesday would have been -91 3/4 cents vs. last Friday's close! Traders were happy to see soybeans rebound to fill the upside gap left from Tuesday's lower open. Also positive, after the gap closer prices held their ground just above that mark. Though we'll call this week a win psychologically, this market is still 188 1/4 cents off the peak posted just one month ago. Rebounding crude and later-July weather concerns were drivers.
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