Agricultural Markets See Mixed Results Amid Weather Concerns

The agricultural markets saw mixed results as of August 7th, 2026. Corn futures closed steady at $4.62 per bushel, but lost its modest gains late in the session due to position evening ahead of next week's USDA monthly supply and demand report.

Soybeans fell 1 1/2 cents to $11.76 1/4, near the daily low, as short covering gave way to position evening. September soybean meal hit a four-week low at $308.90 after losing $6.00 for the week.

However, wheat futures saw gains across the board, with SRW rising 8 1/2 cents to $6.39 3/4 and HRW gaining 14 1/4 cents to $7.14. The winter wheat market was driven by short covering and perceived bargain hunting due to weather problems in major growing regions.

Cotton futures rose 124 points to 84.40 cents, near the daily high, hitting a nearly three-month high as chart-based buying continued to drive prices up. The bulls remain confident after today's technically bullish weekly high close.