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Barchart's weekly column on July 28, 2023 described Chicago SRW wheat as following a rubber-band pattern, with fund positioning diverging from fundamentals that remained bearish. It also reviewed soybean price action and the Federal Reserve's rate increase that week.
The column frames wheat and soybeans as trading against weak fundamentals, which points to downside pressure unless new supply concerns emerge. It is mainly commentary on recent price behavior.
barchart.comDarin NewsomJul 28, 2023Not enough comparable past events yet for a historical read.
Not 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.
