Your Pro Farmer newsletter (July 18, 2026) is now available

A threat to exports from the Black Sea region due to intensified fighting between Russia and Ukraine made winter wheat the uncharacteristic driver of a summer rally in the grain and soy complex. Soft red and hard red winter wheat rallied to two-month highs before running into some profit taking late in the week. Still, corn and soybean futures found support on weather concerns amid hot, dry conditions in the western Corn Belt that appear set to continue. Purchases by China and strong crush demand provided support for soybeans. Cattle futures were caught in a downdraft as cash prices fell amid lighter summer demand. Lean hog futures extended gains, supported by improving cash and wholesale fundamentals. We cover all of this and more in this week’s newsletter.