Russia hiked the export duty for corn almost tenfold, marking the first sign of export curbs amid lower corn crop forecasts.

Naomi Blohm, Total Farm Marketing, says corn and soybeans have rallied into chart resistance and will need three main fundamental factors to combine to keep prices moving higher.

November soybeans rallied 24 3/4 cents to $10.65 3/4 and surged 53 3/4 cents on the week. We share our outlook for the next 5, 30 and 90 day segments.

Vince Boddicker with Farmers Trading Company says soybeans continue to see Brazil weather concerns and technical buying. When soybeans put in an early harvest low they tend to rally around 80 cents and have cleared that mark already. However, if Brazil stays dry the market could continue to price that in.

This labor dispute between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX) could have far-reaching consequences if an agreement is not reached before the contract expires on Sept. 30.

Scott Varilek, Kooima Kooima Varilek, says cattle futures reversed with $2 higher cash in Southern feedlot areas. Grain markets ended lower as fund short covering was overrun by an increase in farmer selling.

Jerry Gulke wonders if the unintended consequences from failed biofuels policies are really unintended at all.

Winter wheat planting rates in Russia have fallen to an 11-year low, clouding the outlook for the 2025 harvest, Black Sea consultancy SovEcon said.

USDA revised its forecast for food prices in 2024, expecting a smaller increase than previously predicted.

Matt Bennett, AgMarket.Net, says the market has been resilient as the funds are exiting shorts and taking profits end of quarter.