Weather leanings shaped expectations for a softer market start. Just as it was raining in Chicago on Friday to help dampen bullishness in grains, traders will focus on more rain coming to break up the heat in the Eastern Corn Belt forecast. War risks were still the possible wildcard for turning prices back higher. The week should also feature follow-up on Chinese export demand and fresh news for biofuels. In the Headlines The end of the week/end of the month brought out position-squaring pressure against the grains, led by wheat futures, which had been the best performer of July. September Chicago wheat futures kept a gain of 50 cents for the month while the Kansas City contract was up 96 1/2. December corn finished July up 28 cents and November soybeans were up 43 3/4. Traders will keep a close eye on the stock market after last week’s volatility surrounding nervousness over technology company earnings and the potential overleveraging of investors in the artificial intelligence sector. There was contagion from South Korea’s stock market selling off sharply due to huge losses in names including Samsung Electronics, one of the highly-levered single-stock ETFs that retail investors were getting blown out of….
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