Garrett Toay, AgTraderTalk, says bearish outside markets spilled over to cause risk off selling in grain and livestock futures Friday, but grain markets says some profit taking and positioning ahead of the WASDE.

A recap of this week’s price action and outlook broken down into the next 5, 30 and 90 day segments.

Darin Newsom with Barchart says grains have had a good run on fund short covering and will need some new bullish news to keep going and get above chart resistance.

Mike Zuzulo, Global Commodity Analytics, says corn and wheat saw some profit taking after a nice rally, while soybeans powered back on export business and South American weather.

The SAF Coalition has formed, representing nearly 40 major airlines, airports, manufacturers and biofuel producers, lobbying Congress to provide a larger and longer-lasting tax incentive for sustainable aviation fuel (SAF).

Mike Zuzulo, Global Commodity Analytics, says grains are seeing near term support from global weather concerns and improving demand. Livestock end in the red with a poor technical close in cattle on lower cash.

Scott Varilek, Kooima Kooima Varilek, says cattle are reacting to early cash which was lower but he says he is still looking for steady money. Grains take a breather, but he thinks that rally will continue with better demand and South American concerns.

Low water conditions have led to several barges running aground along a key stretch of the lower Mississippi River, the U.S. Coast Guard told Reuters.

Rich Nelson with Allendale says supply and demand factors are combining to push the market higher and he isn’t sure the rally is over yet.

Rich Nelson with Allendale, Inc. says grains are pricing in ideas that corn and soybean yields are not as big as feared. That’s what they found in their nationwide annual yield survey. However, South America’s crop size may also be declining. So what will that mean for the September WASDE and can grain prices continue to rally as a result?