US Grain Markets Lose Momentum After WASDE Report
The U.S. grain markets experienced a sudden shift in momentum on August 13 after the WASDE report triggered a broad rally the previous day.
Corn led the decline, with September futures dropping 9 cents to $4.48 per bushel and December corn falling 8.75 cents to $4.72.
Soybeans held up relatively better, with September futures gaining 0.75 cent to $11.66 per bushel, while wheat futures also moved back into negative territory due to the fading geopolitical premium associated with Black Sea tensions.
The market's attention is rapidly returning to late-August weather, crop yields, and export demand as these factors could determine whether Wednesday's rally was temporary or the beginning of another period of weather-driven volatility across the Corn Belt.