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AgDay TV Markets Now: John Heinberg, Total Farm Marketing, says soybeans have a poor technical close Friday as Argentina buys from China, corn follows but also sees harvest pressure.

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

Both Dan Basse and Chip Nellinger say considering how dry it’s been, crop yields could be falling, and USDA may be forced to make more cuts to the national yield forecasts in upcoming reports.

Soybeans down as China buys Argentina beans. Corn follows with harvest pressure. Wheat sees technical buying. Cattle make all-time highs on higher cash. Hogs consolidate. John Heinberg, Total Farm Marketing, has more.

Ken Ferrie expects yields to climb as Illinois farmers start harvesting more of their May-planted corn. Looking ahead, he says farmers will see some challenges from herbicide carryover in 2024.

Every year, typically in late September or early October, Beijing unveils its import quotas for the following year, covering essential agricultural products such as wheat, rice, corn, cotton and sugar.

Wheat higher on short covering with a weaker dollar. Soybeans see profit taking on NOPA crush and corn follows it lower. Cattle make all-time highs with higher cash. Kevin Duling, KD Investors, has more.

Profit taking hits the soy complex. Short covering in wheat, corn caught in the middle. Cattle consolidate then hit all-time highs, better No. cash, Crude oil strong. Darin Newsom, Barchart has details.

Mortgage interest rates just hit a twenty-year high, topping 7%. High borrowing costs will slowly dampen farmer demand for acres as record land prices mean all but a few will have to borrow some to buy.

There are just over two weeks for Congress to pass 12 spending bills to avoid a total government shutdown. If time runs out, one analyst says that could mean no USDA report in October and no yield cuts, which are likely.