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Davis Michaelsen and Editor Brian Grete discuss this week’s market action...

USDA’s Cattle Inventory Report showed the U.S. cattle herd contracted 2.0% as of July 1. The Cattle on Feed Report showed the July 1 feedlot inventory up 0.4% from year-ago.

While record June beef stocks could imply sluggish demand, it may also be related to facilities building inventories due to ongoing strong exports. Pork stocks declined less than average last month.

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Russia agrees to not target grain shipment vessels, Huawei is once again under suspicion and foot and mouth disease detected in Australia...

Australia finds traces of FMD, ASF

Corn falls to six-month low overnight on favorable Midwest forecast; soybeans rebound, wheat lower.

Wheat futures faced heavy selling overnight, while corn extended this week’s sharp losses amid reports a deal to restart Ukrainian grain exports will be signed today.

Bankers worry rising input costs may combine with declining commodity prices to strain rural America.