DuWayne Bosse, Bolt Marketing, says grains saw profit taking after running up into some chart resistance.

Scott Varilek, Kooima Kooima Varilek, says cattle futures are well supported on higher cash. Grains seeing pressure as funds may be out of ammunition.

Ted Seifried, Zaner Ag Hedge, says funds have covered most of their record short position in grains and they are not likely to go long.

Take a controlled, calibrated approach to the process, advises Ken Ferrie. That will help you build a framework for high yields next season and protect soil nutrient levels in the process.

Randy Martinson, Martinson Ag, says funds continue to cover shorts in the grain markets but there are some fundamentals also helping to support the rally.

Kent Beadle, Paradigm Futures says corn continues to move higher on fund buying and tighter corn stocks from USDA’s Quarterly Stocks Report. He thinks corn could eventually take out resistance on the charts and move higher.

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.

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.

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.

The Farmer First Fuel Incentives Act has been introduced in both the Senate and the House. A bipartisan group of lawmakers has proposed extending the 45Z tax credit through 2034.