Over the next couple weeks summer break for kids across the country will be coming to an end. Changes are coming for parents too, as we have to tighten up the sleep schedules and get ready to get the kids out of the house. Things have been changing with the ag markets recently, as well. Cattle have been on a weaker streak from their new all time highs. The Grains have gotten off to a rally as their schedules readjust to a friendlier balance sheet and beneficial geopolitical situations.
Corn found strength with the USDA reports this week as September was up 20 cents, with December 21 ¼ cents higher. The initial NASS corn yield projection was at 180.7 bpa, with acreage raised by 1.4 million acres. Production was up 13 mbu from the July WASDE, with ending stocks down 137 million bushels to 1.653 bbu for new crop. This week’s Crop Progress report showed 64% of the US corn crop in the dough stage by August 9, with 16% dented. Condition ratings were steady this week at 61% good/excellent, with the Brugler500 index unchanged at 356. EIA showed ethanol production rising 10,000 barrels per day in the week of 8/7 to 1.117 million bpd. Stocks were up 274,000 barrels in that week 24.798 million barrels. USDA Export Sales data indicated old crop corn business at just 410,748 MT in the week of August 6, with new crop sales at 924,532 MT in that week. Commitment of Traders data as of 8/4 showed managed money trimming back 15,176 contracts of futures and options to their net long to 166,770 contracts.
The wheat complex was, for the most part, the bright spot this week. HRW futures led the rally this week, with the September contract 40 ¼ cents higher. CBT wheat was right in line, with September 35 cents in the green. MPLS spring wheat was the weak spot, down 1 1/4 cents in the September contract. There was some back and forth on the Black Sea situation this week after Ukraine proposed a ceastfore with Russia, which the latter quickly shot down. Crop Progress data from NASS showed 91% of the US winter wheat crop harvested by last Sunday. Spring wheat was 24% harvested, with ratings slipping 4 percentage points at 51% in gd/ex condition, a 339 rating on the Brugler500 index, down 339 points from the week prior. NASS Crop Production data showed 1.531 bbu of wheat output for 2026, down 5 mbu from July. WASDE data tallied ending stocks for 2026/27 at 717 mbu, down 5 mbu due to the production reduction. Weekly Export Sales data from the week of August 6 showed wheat sales for 2026/27 at 255,931 MT. Commitments of Traders showed managed money adding back to their net short by 7,615 contracts of futures and options in CBT wheat as of August 11 to 31,401 contracts. Spec traders in KC wheat cut their net long by 5,432 contracts to 27,622 contracts as of Tuesday.
Soybeans saw some strength for the week, with September up 18 3/4 cents and November 16 1/4 cents higher. September soybean meal was back up $1.30 this week, with September bean oil posting a 120 point gain. Buyers continued to be active this week, with another 641,000 MT sold via daily announcements from USDA to China. NASS data showed yield at 52.7 bpa, with acreage rising 1.4 million acres to peg production at 4.519 bbu, up 44 mbu from the July WASDE. USDA projected ending stocks up 10 mbu to 320 mbu. Monday’s Crop Progress data showed the US soybean crop at 93% blooming by August 9, with 74% setting pods. Crop ratings were down 1% at 62% of the US soybean crop in good or excellent condition, or 361 on the Brugler500 index (-2). Export Sales data showed 2025/26 soybean bookings at 75,119 MT in the week ending on August 6. New crop business was reported at 1.446 MMT. The weekly Commitment of Traders report indicated spec funds trimming back 24,104 contracts to their net long as of August 11, taking it to a new long of 101,362 contracts of futures and options.
Cattle posted weakness this week with August down $8.07. Cash trade fell back this week $7-10 to $225-228. Tyson announced it will shut its Joslin, IL plant (3,000 hd/day) and sell it’s Pasco, WA plant (2,000 hd/day) this week. August feeder cattle were down $10.825 on the week. The CME Feeder Cattle Index was back down $8.86 week/week to $348.50. Wholesale boxed beef prices were mixed this week, as the Chc/Sel spread widening to $24.06. Choice boxes were firmed up $10.94/cwt on the week to $375.30, as Select was $1.13 lower at $351.24. Weekly beef production was up 1.3% from the week prior at 456.7 million lbs, which was 1.4% below same week last year. Year to date production was down 5.5% on an 8% drop in slaughter. The weekly Commitment of Traders report indicated spec funds trimming 1,405 contracts from their net long as of August 11, taking it to 64.662 contracts of futures and options in live cattle futures and options. In feeder cattle futures and options, managed money was adding back 133 contracts to a net long of just 8,738 contracts.
Hogs were back and forth, with October slipping 47 cents on the week. The CME Lean Hog Index was down just 79 cents this week at $95.87 as of August 12. USDA’s Pork Carcass Cutout continues to hold near the $100 level, ending with a $1.60 loss for the week at $99.90/cwt. The loin and butt primals were the only reported higher. Weekly pork production was up 2.2% from the week prior but 1.5% below the same week last year at 496.8 million lbs. Production year to date is up 0.4% above last year on a 0.7% drop in slaughter. CFTC data showed managed money trimming increasing their net short position in lean hog futures and options in the week of 8/11 by 5,479 contracts, taking the net short to 15,121 contracts.
Cotton futures firmed up this week despite a late week correction, with December up 40 points. Crop Progress data from Monday showed 65% of the US cotton crop setting bolls as od Sunday, with 10% bolls opening. Condition ratings were down 2 percentage points at 40% gd/ex, with the Brugler500 index back down 6 points to 319. USDA’s Crop Production report from Wednesday showed cotton down just 90,000 bales to 13.61 million bales. Acres were raised by 0.62 million acres to 10.47 million. Yield was trimmed by 74 lbs/ac to 798 lbs. Old crop stocks were unchanged at 4.2 million bales, with new crop down 100,000 bales to 4 million. Weekly Export Sales data from the week of 8/6 saw 778,939 RB carried over from the 2025/26 marketing year, with 126,050 RB in new sales. Shipments were reported at 126,050 RB. The Adjusted World Price was up 190 points to 68.19 cents/lb on Thursday. Spec traders added another 10,591 contracts to their net long in the week of August 11, taking the position to 78,870 contracts net long.
Market Watch
We start next with the Export Inspections report on Monday morning, with weekly NASS Crop Progress report will be out in the afternoon. NOPA data will also be released on Monday morning. Weekly EIA data will be out on Wednesday per the normal schedule. Export Sales data will be released on Thursday morning. Friday will see the release of the monthly Cattle on Feed report. Friday is the last trade day for September grain options.
Tech Talk: December Corn
December corn got a bounce on this week’s yield number, coming in below estimates. Support via the 40-day moving average ended up holding at $4.61 ¼. Traders faded the rally on Thursday, but the wheat market helped things to rally on Friday. That was arguably the most important candlestick of the week, as it took out the high from Wednesday and closed just a penny off the high. Stochastics are running bullish, as is the Commodity Channel Index. Resistance comes the downtrend line off the previous two highs at $4.87 ¾, with the July high at $4.92. Other resistance would be the 78.6% Fib retracement odd the May high at $4.89, which stopped things in July, with the May high at $5.06 ½. We’re going to need some more steam to get there. The Black Sea situation is helpful to get there, but algos will be finicky on any headline adjustments.
There is a risk of loss in futures and options trading. Similar risks exist for cash commodity producers. Past performance is not necessarily indicative of future results.
Copyright 2026 Brugler Marketing & Management. All rights reserved.
Back to School. Ag Marketing Report 08/17/2026
Over the next couple weeks summer break for kids across the country will be coming to an end. Changes are coming for parents too, as we have to tighten up the sleep schedules and get ready to get the kids out of the house. Things have been changing with the ag markets recently, as well. Cattle have been on a weaker streak from their new all time highs. The Grains have gotten off to a rally as their schedules readjust to a friendlier balance sheet and beneficial geopolitical situations.
Corn found strength with the USDA reports this week as September was up 20 cents, with December 21 ¼ cents higher. The initial NASS corn yield projection was at 180.7 bpa, with acreage raised by 1.4 million acres. Production was up 13 mbu from the July WASDE, with ending stocks down 137 million bushels to 1.653 bbu for new crop. This week’s Crop Progress report showed 64% of the US corn crop in the dough stage by August 9, with 16% dented. Condition ratings were steady this week at 61% good/excellent, with the Brugler500 index unchanged at 356. EIA showed ethanol production rising 10,000 barrels per day in the week of 8/7 to 1.117 million bpd. Stocks were up 274,000 barrels in that week 24.798 million barrels. USDA Export Sales data indicated old crop corn business at just 410,748 MT in the week of August 6, with new crop sales at 924,532 MT in that week. Commitment of Traders data as of 8/4 showed managed money trimming back 15,176 contracts of futures and options to their net long to 166,770 contracts.
The wheat complex was, for the most part, the bright spot this week. HRW futures led the rally this week, with the September contract 40 ¼ cents higher. CBT wheat was right in line, with September 35 cents in the green. MPLS spring wheat was the weak spot, down 1 1/4 cents in the September contract. There was some back and forth on the Black Sea situation this week after Ukraine proposed a ceastfore with Russia, which the latter quickly shot down. Crop Progress data from NASS showed 91% of the US winter wheat crop harvested by last Sunday. Spring wheat was 24% harvested, with ratings slipping 4 percentage points at 51% in gd/ex condition, a 339 rating on the Brugler500 index, down 339 points from the week prior. NASS Crop Production data showed 1.531 bbu of wheat output for 2026, down 5 mbu from July. WASDE data tallied ending stocks for 2026/27 at 717 mbu, down 5 mbu due to the production reduction. Weekly Export Sales data from the week of August 6 showed wheat sales for 2026/27 at 255,931 MT. Commitments of Traders showed managed money adding back to their net short by 7,615 contracts of futures and options in CBT wheat as of August 11 to 31,401 contracts. Spec traders in KC wheat cut their net long by 5,432 contracts to 27,622 contracts as of Tuesday.
Soybeans saw some strength for the week, with September up 18 3/4 cents and November 16 1/4 cents higher. September soybean meal was back up $1.30 this week, with September bean oil posting a 120 point gain. Buyers continued to be active this week, with another 641,000 MT sold via daily announcements from USDA to China. NASS data showed yield at 52.7 bpa, with acreage rising 1.4 million acres to peg production at 4.519 bbu, up 44 mbu from the July WASDE. USDA projected ending stocks up 10 mbu to 320 mbu. Monday’s Crop Progress data showed the US soybean crop at 93% blooming by August 9, with 74% setting pods. Crop ratings were down 1% at 62% of the US soybean crop in good or excellent condition, or 361 on the Brugler500 index (-2). Export Sales data showed 2025/26 soybean bookings at 75,119 MT in the week ending on August 6. New crop business was reported at 1.446 MMT. The weekly Commitment of Traders report indicated spec funds trimming back 24,104 contracts to their net long as of August 11, taking it to a new long of 101,362 contracts of futures and options.
Cattle posted weakness this week with August down $8.07. Cash trade fell back this week $7-10 to $225-228. Tyson announced it will shut its Joslin, IL plant (3,000 hd/day) and sell it’s Pasco, WA plant (2,000 hd/day) this week. August feeder cattle were down $10.825 on the week. The CME Feeder Cattle Index was back down $8.86 week/week to $348.50. Wholesale boxed beef prices were mixed this week, as the Chc/Sel spread widening to $24.06. Choice boxes were firmed up $10.94/cwt on the week to $375.30, as Select was $1.13 lower at $351.24. Weekly beef production was up 1.3% from the week prior at 456.7 million lbs, which was 1.4% below same week last year. Year to date production was down 5.5% on an 8% drop in slaughter. The weekly Commitment of Traders report indicated spec funds trimming 1,405 contracts from their net long as of August 11, taking it to 64.662 contracts of futures and options in live cattle futures and options. In feeder cattle futures and options, managed money was adding back 133 contracts to a net long of just 8,738 contracts.
Hogs were back and forth, with October slipping 47 cents on the week. The CME Lean Hog Index was down just 79 cents this week at $95.87 as of August 12. USDA’s Pork Carcass Cutout continues to hold near the $100 level, ending with a $1.60 loss for the week at $99.90/cwt. The loin and butt primals were the only reported higher. Weekly pork production was up 2.2% from the week prior but 1.5% below the same week last year at 496.8 million lbs. Production year to date is up 0.4% above last year on a 0.7% drop in slaughter. CFTC data showed managed money trimming increasing their net short position in lean hog futures and options in the week of 8/11 by 5,479 contracts, taking the net short to 15,121 contracts.
Cotton futures firmed up this week despite a late week correction, with December up 40 points. Crop Progress data from Monday showed 65% of the US cotton crop setting bolls as od Sunday, with 10% bolls opening. Condition ratings were down 2 percentage points at 40% gd/ex, with the Brugler500 index back down 6 points to 319. USDA’s Crop Production report from Wednesday showed cotton down just 90,000 bales to 13.61 million bales. Acres were raised by 0.62 million acres to 10.47 million. Yield was trimmed by 74 lbs/ac to 798 lbs. Old crop stocks were unchanged at 4.2 million bales, with new crop down 100,000 bales to 4 million. Weekly Export Sales data from the week of 8/6 saw 778,939 RB carried over from the 2025/26 marketing year, with 126,050 RB in new sales. Shipments were reported at 126,050 RB. The Adjusted World Price was up 190 points to 68.19 cents/lb on Thursday. Spec traders added another 10,591 contracts to their net long in the week of August 11, taking the position to 78,870 contracts net long.
Market Watch
We start next with the Export Inspections report on Monday morning, with weekly NASS Crop Progress report will be out in the afternoon. NOPA data will also be released on Monday morning. Weekly EIA data will be out on Wednesday per the normal schedule. Export Sales data will be released on Thursday morning. Friday will see the release of the monthly Cattle on Feed report. Friday is the last trade day for September grain options.
Tech Talk: December Corn
December corn got a bounce on this week’s yield number, coming in below estimates. Support via the 40-day moving average ended up holding at $4.61 ¼. Traders faded the rally on Thursday, but the wheat market helped things to rally on Friday. That was arguably the most important candlestick of the week, as it took out the high from Wednesday and closed just a penny off the high. Stochastics are running bullish, as is the Commodity Channel Index. Resistance comes the downtrend line off the previous two highs at $4.87 ¾, with the July high at $4.92. Other resistance would be the 78.6% Fib retracement odd the May high at $4.89, which stopped things in July, with the May high at $5.06 ½. We’re going to need some more steam to get there. The Black Sea situation is helpful to get there, but algos will be finicky on any headline adjustments.
There is a risk of loss in futures and options trading. Similar risks exist for cash commodity producers. Past performance is not necessarily indicative of future results.
Copyright 2026 Brugler Marketing & Management. All rights reserved.