Corn and soybean futures sharply extended their price pullback from the mid-July highs last week amid favorable weather conditions and active fund selling. Both markets are now oversold and due for a corrective bounce, but near-term momentum is with bears. Wheat futures proved again they will lead price declines if corn and soybeans aren't providing support. Live cattle futures also posted sharp weekly losses amid concerns about sluggish beef demand and lower cash cattle trade.
We provide our updated yield and carryover scenarios -- and much more -- in this week's newsletter.
Pro Farmer Editor Brian Grete highlights this week's newsletter below:
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