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Following the bearish report on Wednesday, grain markets closed higher for the week, which, according to Jerry Gulke, signals the market might believe there is more downside to yield.

The House Select Committee on the Chinese Communist Party (CCP) introduced an act to prevent foreign adversaries from exploiting U.S. land near security sites, and would push a review of current ownership in these areas.

After the June report, traders prepared for a “new” trading environment with “burdensome” corn supplies and “pipeline” soybean supplies. Then came the anticlimactic July report.

Grains higher for the week shaking off the bearish WASDE. Focus on weather, yield, Black Sea Grain Deal and falling dollar. Live cattle rebound into new contract highs, hogs consolidate. Jim McCormick, AgMarket.Net.

Friday’s technically bullish weekly high closes in winter wheat futures suggest follow-through chart-based buying next week.

State officials find these states serve as early examples of the challenges other places may face in response to the recent Sackett ruling on WOTUS.

Soybeans see profit taking with lower bean oil, no China biz. Corn & wheat up weather & uncertainty about yield, Black Sea Grain Deal. Cattle see technical bounce, while hogs consolidate. Ted Seifried, Zaner Ag Hedge.

Grains are mostly higher on follow through fund buying, with weather and uncertainty on the Black Sea Grain Deal supportive. Do yields need to come down more? Nick Tsiolis, Farmers Keeper.

Meanwhile, service prices and the core index (which excludes food and energy) remain high, with the core CPI descending to 4.8%.