Corn: Dec corn up 5 overnight after a Ukrainian drone attack halted operations at Russia’s Novorossiysk port, hitting 3 grain export terminals. WASDE, FSA acreage, and CONAB all due this morning: yield est. 182.4 vs 183.0, new crop stocks 1.725 billion vs 1.790. Dec holding 457 support with resistance at 471.
Soybeans: Nov beans up 6 1/2 on short covering ahead of the WASDE and CONAB reports. Yield est. 52.9 vs 53.0 and harvested acres may increase slightly. Nov made a new 5 week low yesterday but didn’t extend. Resistance at 1190, below 1167 opens the 1140 to 1150 zone.
Wheat: Dec Chicago wheat up 21 overnight after Ukraine attacked Novorossiysk with hundreds of drones, halting all 3 grain terminals. Russia’s exports the first 10 days of August are down 18% and Ukraine’s total grain exports this month are down 75%. WASDE expected to cut US stocks to 715 from 722. Support held at 630.
Livestock: Oct live cattle still capped at the 200 day at 227.90: above 228 targets a retest of 230. JBS expects US/Mexico cattle flows to normalize by Q2 2027 but herd rebuild to be slow. Cash at 235 to 236, cutout $371.31, support 224.15. Oct hogs gave a stochastics buy signal, above 84.45 opens 85.40.
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