Hedge Plus @HedgePlusWI

Cattle markets showing real signs of topping out. Tight supply still there but demand may finally be slowing... October live cattle dipped 97.5 cents to $235.97½ while October feeder cattle were down $1.05 to close the week at $357.90 Enjoy the weekend everyone!

Selected grain contracts at settlement... The grain markets were up most of the day until future export demand worries and return of high yield forecasts won the day... Dec CORN: down 1¾ cents to $4.18 Nov SOYBEANS: down 6 cents to $10.27 Dec WHEAT: down ¼ cent to $5.19¼

At midday, corn prices continue to push higher supported by good export sales while wheat is holding near support around $5.20. Soybeans tested the 20-day MA at $10.37¾ before pulling back following the export sales report showing new crop sales down 32% YOY

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Wheat basis remains steady even though futures are low and farmers are simply not selling these prices. We need some weather issues and a demand spark to excite this market

Soybean basis was steady as buyers have an eye on water levels to ensure barge traffic remains available

Corn basis was mostly steady with some improvement at the Gulf as buyers watch river water levels. Elevators are starting to warn about moisture levels and an ethanol plant in Union City, IL is offering free delayed pricing to the end of September ie free storage

Corn prices moved about $1 higher while soybean prices stay near even with the U.S. price still the best in the market. Come on China!! U.S. wheat prices moved $1-$2 lower while the Russian price held steady and the Black Sea ports and Baltic countries get the business

The cold front sweeping down from Canada could affect crop conditions while we see a heatwave in the south and southeast before cooler temperatures arrive. Southern Russia is hot and dry with little relief in sight but we hear little about the stress on the corn and wheat

The USDA has reported the following private export sales: -123,000 metric tons (4.5 million bushels) of soybeans for delivery to unknown destinations AND -204,650 metric tons (7.5 million bushels) of soybeans to unknown destinations Both during the 2025/2026 marketing year

Ethanol production ticked up 1 mil gallons to 316 mil gallons, up 1.3% over LY. Usage was 15.3 mil bu/day and above the 14.9 bu/day needed to meet the USDA forecast. Stocks also moved higher to 22.6 mil barrels, in line with expectations but below LY at 23.3 mb

At the pause... It looks like corn prices want to close the week strong as prices grind higher and soybeans try to follow. Wheat prices look happy to hold near support for now Dec CORN: up 1¾ cents at $4.21½ Nov SOYBEANS: down ¼ cent at $10.32¾ Dec WHEAT: up ¾ cent at $5.20¼

Disappointing wheat sales for the week ending August 28th as U.S. prices no longer rank the lowest. The combined total of 11.7 mb fell below the lowest of trade expectations. Anticipated old crop cancelations held down otherwise strong sales of new crop corn and soybeans

Some much-watched reports today are the export sales report to see if we continues to strong demand for corn and wheat and an update on trade for livestock. The BIG report is on unemployment and how that affects the economy and possible rate cuts from the Federal Reserve

For sure we will see pressure on prices as the combines roll, it happens every year and we are facing the possibility for a record crop to boot but the corn market is indicating that there is strong buying interest and we just have to be patient for our next cash sale

It will be interesting to see how the market reacts (or doesn't) to President Trump's latest jab at China on social media. It doesn't sound promising for a trade deal anytime soon. Surely there's a high level of posturing going on, so perhaps the focus will be on weather instead

Hog prices continue to trend in a positive direction and we've got a new target for the next round of sales... October hogs gained $1.20 today and closed at $95.02½ while December hogs added 17.5 cents to settle at $87.30

Selected grain contracts at settlement... A small bounce back day for both corn and soybeans, but lack of significant weather threat or new trade news tempers things... Dec CORN: up 1¾ cents to $4.19¾ Nov SOYBEANS: up 1½ cents to $10.33 Dec WHEAT: down 2½ cents to $5.19½

At midday we see prices searching for support as the weather forecast brings rain for the Ohio River area and S Delta but not in northern IL, IN or OH and concern is building for the lack of demand from China for beans and private estimates of strong yields in corn and soybeans