Speculative investors were net-short corn by the most since April, the CFTC said in a report on Friday.
After a strong start on Monday, wheat spent the rest of the week working its way lower — eventually testing recent contract lows.
By now, most market watchers are probably wondering what is going on in the soybean futures market.
The contract high for November soybean futures was achieved on June 13 at $11.86. Is it over for beans?
Soybeans jumped, rebounding from overnight losses, on speculation that investors will jump on contracts after prices fell to the lowest level since April.
Beef supply has been large due to heavy placements of heavy calves and the beginning of more females coming to market as herd expansion may be slowing.
Signs of lower U.S. beef demand appear.
According to our cattle market analyst, kills are running larger than expected, but that doesn't change anyone's mind about supplies.
The week's kill was estimated at 598,000 head according to USDA's estimated kill report. That is just under last week's big 611,000 head run.
In the June Hogs and Pigs survey, pork producers told USDA they had increased the size of the breeding herd by 1% relative to year-ago levels.