Scott Varilek, Kooima Kooima Varilek, says cattle saw some early profit taking pressure after contract and record highs again Thursday. However, the cattle futures have been resilient and every break seems to get bought, which is a good sign of a bull market.

Randy Martinson, Martinson Ag, says grains markets all closed higher on Thursday as they were oversold and due for a corrective bounce.

EPA has released a proposal to void it’s 2009 endangerment finding that declares greenhouse gas emissions no longer be a threat to the environment. Under the Trump administration, the move signals EPA is going to de-emphasize carbon in energy and environmental policies.

Sam Hudson with Corn Belt Marketing says corn made contract lows again Wednesday as funds continue to sell on record yield estimates from private firms. However, the pressure is about more than just yield.

Greg McBride with Allendale, Inc. says soybeans and wheat saw early strength on Wednesday but the markets have struggled to hold gains with corn making new contract lows again.

John Heinberg of Total Farm Marketing says funds sold across the grain complex pushing corn to new contract lows again. Corn saw pressure from historically high crop ratings and record yield estimates.

So far pollination and disease issues are being discounted by the corn market. The key to how low prices could fall is dependent on just how much above 181 the corn yield is and will it show up in the Aug. 12 WASDE ?

Brady Huck with Advance Trading, Inc. says corn continues to grind into new contract lows with a strong crop rating of 73% good to excellent on Monday and StoneX’s record 188.1 bushel yield forecast.

Tommy Grisafi with Nesvick Trading Company says soybeans and meal both saw a short covering bounce after a long string of lower days, while corn made more contract lows.

It’s yet to be seen which countries will retaliate to the announced July 31 tariff increases, but the tariffs in place since April are generating revenue for the U.S.