GRAIN CALLS
Corn: Steady to 2 cents lower.
Soybeans: 4 to 6 cents lower.
Wheat: 4 to 6 cents lower.
GENERAL COMMENTS: Corn, soybeans and wheat are each consolidating on the daily bar chart. Each held key support on Thursday as well, keeping uptrends alive on the daily bar chart. Front-month crude oil futures are trading modestly lower this morning while the U.S. dollar index is around 270 points higher.
USDA reported daily sales of 250,600 MT of soybeans for delivery to unknown destinations during the 2026-27 marketing year.
The U.S. economy added 162,000 jobs in August, well above a revised 23,000 job increase in July and much higher than expectations of 56,000 jobs. Employment increased in food services and drinking places by 59,000 and in local government education by 42,000. The unemployment rate remained unchanged at 4.1%, in line with expectations. The labor force participation rate increased to 61.6% from a five-year low of 61.4% in July, noting that people are re-entering the workforce. The jobs data this morning ultimately showed a robust labor market, further bolstering justification for a rate hike later this month.
Steve Witkoff and Jared Kushner are expected to visit Moscow and Kyiv this weekend, according to Russia’s state-run Tass news service and as reported by Bloomberg. They’re likely to travel to Moscow first and then head to Kyiv, Tass reported today, citing a person familiar that it didn’t identify. Kremlin spokesman Dmitry Peskov didn’t immediately respond to a request for comment. Ukrainian President Volodymyr Zelenskyy’s office didn’t immediately respond to a request for comment. Zelenskyy said Thursday that he expected to meet with U.S. envoys within the coming days. It would be the envoys’ first visit to Kyiv since the start of Russia’s February 2022 full-scale invasion. Witkoff and Kushner have visited Russia multiple times for talks with President Vladimir Putin and his officials in an effort to broker a peace deal that has so far proved elusive. Putin said Thursday that Russia and Ukraine need to reach agreement between themselves first of all, though powers such as the U.S. and China can help. “Is there a chance (for peace)? In my view, yes it exists,” Putin said.
The United Nations’ FAO Food Price Index rose 1.9% to 133.3 points in August 2026, marking its second consecutive monthly increase and reaching its highest level since November 2022. The rise reflected broad-based increases across all commodity categories. Sugar prices recorded the biggest increase, jumping 11.9% to a new high since June 2025, amid growing concerns over the global sugar supply outlook in the 2026/27 season. Dairy prices went up 2.3%, driven by higher milk powder and cheese. Cereals rose 2.2% to May 2024-highs, supported by robust demand, weather-related concerns over crop prospects in key producing regions, and continued uncertainty surrounding Black Sea export flows. Meat cost increased 1%, reflecting higher poultry, pig and ovine meat prices. Finally, cost for vegetable oils edged up 0.6% to its highest level since June 2022, amid higher world palm and soy oil prices, which more than offset lower quotations for sunflower and rapeseed oils.
CORN: December corn struggled to maintain early overnight bullish momentum. Support comes in at $5.32 then yesterday’s low at $5.26 1/2. Resistance stands at Wednesday’s contract high of $5.49 3/4.
SOYBEANS: November soybeans are consolidating on the daily bar chart. Support at yesterday’s low of $12.90 1/4 is reinforced by the 10-day moving average at $12.86. Resistance comes in a the contract high of $13.24.
WHEAT: December SRW wheat managed to close above 10-day moving average support at $7.50 Thursday, which remains key support today.Additional selling would find support at yesterday’s low of $7.30 1/2. Resistance stands at $7.74 on a bounce.
LIVESTOCK CALLS
CATTLE: Higher.
HOGS: Choppy/higher.
CATTLE: Live and feeder cattle futures surged higher Thursday, which opens the door for continued strength today. Cash cattle trade is pointing to another week-over-week decline, but late-week futures strength could give feedlots an edge in negotiations. Choice beef slid another $1.88 to $376.90 Thursday, extending the recent decline.
HOGS: Lean hog futures are chopping between 100-day moving average resistance and 40-day moving average support. Strength in the cash market could limit the downside in futures, but stiff overhead resistance remains. The CME lean hog index is up another 23 cents to $91.08 as of Sept. 2. Pork cutout slid $4.50 to $91.12 Thursday, led by a $32 plunge in bellies.