Minor changes from USDA. Weather is the main driver ahead. June 9, 2023
Soybeans traded quite well on Friday and ended the week on a strong note with five day gains of 34 and 20 1/2 cents for old and new crop respectively. This was the best close since 5/15. November confirmed a minor Head & Shoulders bottom on the chart. USDA's monthly report was on the trade expectation. The trade is interested in holding a light risk-on weather premium.
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