CORN
NOTE: Scouts are on their third day of the annual Pro Farmer Crop Tour. We have been and will be providing real-time coverage of the Tour right here at ProFarmer.com and on the Pro Farmer app: Live Coverage: Pro Farmer Crop Tour scouts to sample fields across 7 states.
December corn rose 5 1/2 cents to $5.03 1/2, nearer the daily high and hit a three-month high. The corn futures market continues to be supported by the recent major flooding in the eastern Corn Belt and the Pro Farmer Crop Tour whose results are so far leaning price-bullish. A much weaker U.S. dollar index this week that hit another 2.5-month low today is also aiding the grain markets bulls. Scouts on the eastern leg of the Pro Farmer Crop Tour measured average yield potential 184.19 bu. per acre for Illinois, down from 199.57 bu. Per acre in 2025 and the three-year average of 199.15 bu. Per acre. On the western leg of the Tour, scouts measured potential yield in Districts 1, 4 and 7 in western Iowa on Wednesday. Full Iowa results will be released tonight at 8 p.m. CT. World Weather Inc. today said much of the Midwest will continue to see favorable conditions for crop development through the next two weeks, with drier weather starting today beneficial in areas that have become excessively wet, while the drier areas in the northwestern Corn Belt benefit from occasional rounds of rain through the period.USDA reported weekly corn sales of 232,900 MT during the week ended Aug. 13, down 43% from the previous week and 24% from the four-week average. Net sales of 816,100 MT were reported for the 2026-27 marketing-year.
SOYBEANS
November soybeans fell 3/4 cents to $12.36 1/2, near mid-range and hit another three-week high overnight. September soybean meal fell $3.20 to $315.70, near the daily low and hit a three-week high overnight. September soybean oil gained 132 points to 71.18 cents, near the daily high. Spreaders were featured buying bean oil and selling meal today. The Pro Farmer Crop Tour continues to favor the bullish camp of soybean futures traders. Scouts on the eastern leg of the Crop Tour measured pod counts in a 3’x3’ square averaged 1,430.37 in Illinois, down from 1,479.22 in 2025 and the three-year average of 1,389.65. On the western leg, scouts measured Pod counts in a 3’x3’ square in western Iowa on Wednesday. Full Iowa results will be released tonight at 8 p.m. CT. USDA this morning reported daily export sales of 150,000 MT of U.S. soybeans to unknown destinations. USDA also reported weekly U.S. soybean export sales of 85,000 MT during the week ended Aug. 13, up 13% from the previous week but down 27% from the four-week average. Net sales of 1.723 MMT were reported for 2026-27, including just over 1 million MT to China. World Weather Inc. today said concern about wet fields in the heart of the Midwest will continue, although the situation will slowly improve with less frequent and less significant rain in the next two weeks. Temperatures will remain milder than usual and soybeans, in particular, will need warmer weather soon, said the forecaster.
WHEAT
September SRW rose 2 1/2 cents to $6.82 3/4, near mid-range and hit a three-week high early on. September HRW rose 1/4 cent to $7.62 1/4, near mid-range and also hit a three-week high early on. September spring wheat futures rose 6 3/4 cents to $7.00 3/4, nearer the daily high. The winter wheat futures markets saw more buying support coming from gains in corn and soybean prices as well as this week’s drop in the U.S. dollar index. Also, reports Black Sea wheat shipments have been severely disrupted, including no Ukrainian wheat moving out of that country at present, are bullish for wheat. Prices did back off their daily highs today on some profit taking from the shorter-term futures traders. USDA this morning reported weekly U.S. wheat export sales of 393,700 MT for 2026-27, up 54% from the previous week and 40% from the four-week average. World Weather Inc. reports good harvest weather has been occurring in the northern U.S. Plains and Pacific Northwest. Most other harvesting is complete. Some relief recently has impacted a part of both Canada’s late spring wheat and barley crop as well as in a few northern U.S. Plains locations. The rain has not restored soil moisture to normal, but enough may have occurred to help late filling crops and grain quality.
COTTON
December cotton futures fell 1 point to 88.34 cents, near mid-range and hit a contract high early on. Mild technical buying amid bullish charts, this week’s drop in the U.S. dollar index, to a 2.5-month low today and higher crude oil prices supported cotton futures prices most of today. However, some late profit taking by the shorter-term futures traders set in and prices backed down from their daily highs. World Weather Inc. today said western Texas and southwestern Oklahoma will see further increases in crop stress and declines in yields through the next two weeks as hot temperatures will continue through at least the next week and rain will be too light and infrequent to induce more than brief improvements in crop and soil conditions. Isolated to occasionally scattered showers will occur regularly through the next two weeks with daily totals less than 0.40” most often. The Blacklands, south Texas, and the Coastal Bend will also see little rain through the next two weeks and stress to developing cotton will steadily increase as the soil dries out, while cotton maturation and harvesting occurs in a mostly favorable environment. This morning’s weekly USDA export sales report showed U.S. sales of upland totaling 209,400 RB for 2026/2027 primarily for Vietnam (55,400 RB), Pakistan (51,900 RB), El Salvador (40,100 RB), Honduras (27,600 RB) and India (16,500 RB. Net sales of 64,900 RB for 2027/2028 were reported for El Salvador (35,100 RB), Guatemala (15,400 RB), and Honduras (14,300 RB). Exports of 222,000 RB were primarily to Vietnam (66,800 RB), Pakistan (30,200 RB) and India (28,200 RB).
CATTLE
October live cattle rose $0.775 to $218.00, near mid-range. September feeder cattle lost $0.20 to $328.925, nearer the daily high and hit an eight-month low early on. Live cattle and feeder cattle futures saw early short covering and perceived bargain buying today but bulls faded down the stretch. Prices remain trapped in downtrends on their daily bar charts. Gains in futures were also limited by lower cash cattle trade so far this week. USDA at midday today reported more active cash cattle trading taking place at lower money, with steers averaging $225.28 and heifers averaging $225.15. The agency reported cash cattle trading last week averaged $228.52. The noon report today showed lower boxed beef prices, with Choice grade down $2.85 at $392.14 and Select grade down $0.61 at $363.56. Movement at midday was light at 61 loads. The Choice-Select spread is presently plus $28.58. This morning’s weekly USDA export sales report showed U.S. beef sales of 9,300 MT for 2026 were down 36 percent from the previous week and down 37 percent from the prior 4-week average.
HOGS
October lean hog futures fell $1.275 to $80.225, near the daily low and closed at a two-month low close. The lean hog futures market saw more chart-based selling today as prices are in a downtrend on the daily bar chart. Also, the cash hog market is still trending down and seasonals suggest higher slaughter levels in the coming weeks, which also favor the lean hog futures bears. The latest CME lean hog index down 82 cents to $93.96. Friday’s projected CME index price is down another 24 cents at $93.72. The national direct five-day rolling average cash hog price quote for today is $92.90. The USDA’s noon pork report today showed cutout value was up $0.38 at $97.96, led by gains butts and picnics. Movement at midday was 137.22 loads. This morning’s weekly USDA export sales report showed U.S pork sales of 27,300 MT for 2026 were down 25 percent from the previous week and down 15 percent from the prior 4-week average. Exports of 27,800 MT were down 9 percent from the previous week and 8 percent from the prior 4-week average. The destinations were primarily to Mexico (13,000 MT), Japan (3,200 MT) and China (2,500 MT).