# Soybean Weekly Report

> 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.

- Date: 2024-07-08 · published 2024-07-08T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/11587-soybean-weekly-report
- Commodities: [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Flood losses in southern Brazil and reduced fund shorts support prices, while favorable US crop conditions and strong Argentine and Brazilian supply limit gains.

## Read by commodity

- SOY: bullish ▲

## Sources

- stonex.com: https://www.stonex.com/en/insights/soybean-weekly-report-1507963/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.