July 10, 2026 | Your Ag Network
Friday brought cooler market sentiment to the grain trade as improved weather forecasts weighed on overnight prices ahead of one of the month’s most closely watched USDA reports.
Forecast rainfall across portions of the Corn Belt and central Plains helped ease concerns about crop stress during the critical pollination period, pulling weather premium out of the grain markets. Rain was falling Friday morning across parts of Nebraska, Kansas and Missouri, with additional moisture expected in several key growing areas.
Overnight temperatures reflected the cooler start, with 71 degrees in Omaha, 64 in Aberdeen, South Dakota, and 60 in Dickinson, North Dakota.
Grain futures were lower across the board in overnight trade. December corn traded around $4.47 per bushel, while November soybeans fell 8 cents to $11.73. December soybean oil traded at 68.48 cents per pound, and December soybean meal was quoted near $313 per ton.
Wheat futures also moved lower. September Chicago wheat slipped 5 cents to $6.14, while Minneapolis September wheat traded near $6.37 and Kansas City September wheat was around $6.48 per bushel.
All eyes now turn to the USDA’s World Agricultural Supply and Demand Estimates (WASDE) report, scheduled for release at 11 a.m. Central Time Friday. The report is expected to provide updated estimates on crop production, ending stocks and global supply, with traders anticipating increased market volatility once the numbers are released.
Livestock futures also finished lower Thursday, with August live cattle and feeder cattle contracts both closing roughly $2 to $5 lower. Despite the weakness in the futures market, the cash feeder cattle trade remained exceptionally strong.
Auction barns across cattle country continued to report near-record prices. Pratt Livestock in Pratt, Kansas, sold 41 steers averaging 638 pounds for $478 per hundredweight, while Valentine Livestock Auction in Valentine, Nebraska, reported 79 steers averaging 716 pounds bringing $425 per hundredweight.
The continued strength in the cash market underscores the ongoing disconnect between feeder cattle futures and physical cattle prices, as producers continue to see robust demand despite recent pressure in the board trade.
Stay with Your Ag Network throughout the day for complete coverage and analysis following the USDA WASDE report.