Weekly Winners & Losers
Show of hands for those who would like off the ride! Hate to break it to you but given weekend headlines… doubtful this ride is over (as it pertains to geopolitics, anyway).
All eyes on wheat last week as the conflict intensified in the Black Sea. Sep Chicago wheat futures ran to $7.77 on Tuesday - their highest level since late February and their largest premium over corn since last fall.
September wheat has now gained $1.00 on September corn since the beginning of June.
August beans had a WILD week, rallying 80 cents from last week’s close to a new contract high near $15.81 on Thursday before giving up 60 cents of those gains by Friday’s close.
If you have old beans left - what are you doing?
At least the casino would likely give you a drink and a free trip to the buffet before it sent you home broke.
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