Weekly overview of ag commodity market news and price action compiled by Austin Schroeder with Brugler Marketing. Not intended as trading advice. Actions taken are responsibility of the reader.

Kent Beadle with Paradigm Futures says corn futures ended lower on Friday on profit taking and were down nearly 2-cents for the week. However, December still held the 50-day moving average.

Steve Censky, CEO of the American Soybean Association says, “China imports more soybeans than the rest of the world combined and so you can’t make up the loss of the China market by gaining a little bit here or there.”

Randy Martinson, Martinson Ag, says corn is working on its third higher weekly close, which continues to help confirm the fall low set on August 12. Soybeans are still looking for China export business but could they be buying under unknown destinations?

If the legal challenge succeeds, the federal court decision would result in making the technology unavailable for sale or distribution to U.S. farmers.

Kevin Duling with KD Investors says corn shook off early losses after bouncing off support on the charts.