- Lighthouse Commodities
Market Thoughts 5.28.23
July corn gained 49’4 to close at 604’0 this week, the highest weekly close for that contract since April 17th and its largest weekly gain since the end of July. July soybeans gained 30’0 cents to close at 1337’2, a solid gain but comparatively much worse than corn and recovering less than half of last week’s 82’6 cent loss. July spring wheat gained 14’0 to close at 818’0 but still remains an incredible 70 cents below its high from the previous Wednesday.
Corn finally managed to kickstart the rally we’ve been talking about since late April, dragging wheat and beans reluctantly with it. The story right now is definitely...