Your Pro Farmer newsletter (August 1, 2026) is now available

A larger-than-expected drop in condition ratings lifted both corn and soybeans early in the week but was quickly forgotten as weather forecasts pointed to timely precipitation, including areas that have seen significant dryness. Soybeans led the way lower on favorable weather heading into the crucial August growing period, while lackluster China demand also weighed. Wheat futures also felt pressure but were insulated by the continued escalation of fighting between Russia and Ukraine, which has threatened export flows out of the Black Sea region. Cattle futures signaled they may have bottomed after USDA announced plans to reopen the southern border to Mexican imports, while lean hog futures hit a three-week low alongside signs a cash rally is stalling out. We cover all of this and more in this week’s newsletter.