With the FEDS rating drop adding pressure to the markets, harvest is underway, though dry conditions are raising concerns about crop quality. This year’s yield potential remains difficult to pin down, with variability across regions making it hard to get a clear picture. The upcoming Quarterly Grain Stocks and Small Grains Summary Report on September 30th will be closely watched for further insights. In Argentina, BAGE reported that farmers in the north and west are abandoning wheat fields due to drought and insect pressure, while 80% of wheat in the east is rated good/excellent. Basis levels are fluctuating as markets adjust to harvest progress and supply concerns. In livestock, cattle movement is showing some strength in the charts, while hog producers are considering holding off on selling as they assess market trends and weigh their options.