Corn futures are mostly a penny higher at midmorning.
- Corn futures have notched fresh for-the-move highs amid support from export demand.
- USDA reported daily sales of 205,000 MT of corn to unknown destinations during 2026-27.
- In Iowa, scouts on the Pro Farmer Crop Tour measured an average potential yield of 193.98 bu. per acre, down from 198.43 in 2025, but up from the three-year average of 191.34 bu. per acre. In Minnesota, scouts measured an average potential yield of 199.01 bu. per acre, down from 202.86 in 2025 but up from the three-year average of 183.04 bu. per acre.
- September corn futures continue to face resistance at $4.82 1/2, while support lies at $4.73 1/2.
Soybeans are mostly 4 cents lower, while meal is around $2.50 lower. Soyoil is around 120 points lower.
- Soybeans are being pressured by both meal and soyoil despite strong export sales reported to China and unknown destinations.
- USDA reported daily sales of 712,000 MT of soybeans to China and 720,000 unknown destinations each during 2026-27.
- In Iowa, scouts on the Pro Farmer Crop Tour measured pod counts in a 3’ x 3’ square averaged 1,362.93, up from 1,295.70 last year, but down from the three-year average 1,384.38 pods. In Minnesota, Scouts measured pod counts in a 3’ x 3’ square averaged of 1,257.80, up from 1,247.86 last year and the three-year average of 1,089,82.
- September soybeans are facing resistance at this week’s high of $12.28 1/4, which is backed by the July 24 high of $12.43. Initial support lies at $12.07 1/2, which is backed by psychological support at $12.00.
Wheat futures are 3 to 6 cents lower.
- SRW wheat futures are weaker in inside trade as traders pause ahead of the weekend.
- World Weather Inc. reports too much rain has been falling in parts of Russia’s New Lands, possibly raising the potential for wet weather disease. The wet bias is expected to continue, while rain is needed in southern Russia and Ukraine to support late spring crops and to prepare the soil for fall wheat planting.
- September SRW futures are facing initial resistance at $6.90 3/4, which is backed by the July 24 high of $7.11 1/4, while support lies at $6.75 1/4, which is backed by the 10-, 20-, 40- and 100-day moving averages.
Live cattle and feeders are weaker at midsession.
- October live cattle are notably weaker amid technical selling following President Trump’s announcement to allow tariff-free ground beef imports.
- President Donald Trump said Friday he would allow up to 300,000 MT of ground beef to be imported without impacting tariff quotas as a part of a 90-day deal to aid a struggling economy.
- Choice boxed beef fell $5.06 to $389.93, while Select fell 43 cents on Thursday to $363.74 on Thursday. Movement totaled 110 loads for the day.
- The detection of New World Screwworm in the Mexican state of Sonora on Wednesday threatens to complicate the planned Aug. 24 reopening of the U.S.-Mexico border to Mexican cattle imports, reports Angie Denton of Drovers. Sonora is just south of Arizona. The case was reported in a cow in the southern region of the state. USDA has previously emphasized that the reopening schedule is flexible and could be paused if authorities detect an increased risk on either side of the border.
- October live cattle are testing 10-month lows and look for support at the early-December lows in the $210.00 area. Firmer support is at last November’s low close of $197.375. Resistance is at the 10- and 40-day moving averages of $234.47 and $236.275.
Hog futures are higher at midday.
- October lean hogs are modestly firmer despite fading wholesale fundamentals.
- The CME lean hog index is down 24 cents to $93.72 as of Aug. 19.
- The pork cutout value fell to $1.09 to $96.49 on Thursday. Movement totaled 256.15.
- October lean hogs find support at the June low close of $79.925. First resistance is seen at the 10-day moving average of $81.77, then the August high close of $83.675.