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Chicago soybeans gained 2.9% in the first week of July, with the August contract closing at 1166.25 cents per bushel. US good/excellent crop ratings were 67%, above the five-year average, and Rio Grande do Sul flood losses were cited as supportive.
Flood losses in southern Brazil and reduced fund shorts support prices, while favorable US crop conditions and strong Argentine and Brazilian supply limit gains.
stonex.comStoneX Intelligence BrazilJul 8, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
