Market Wrap-Up

Trade is stuck in a range heading into Wednesday, with three major storylines keeping traders focused.

First: Trump and Xi. The long-awaited meeting between President Donald Trump and Chinese President Xi Jinping is underway, with trade and broader U.S.-China relations in focus.

Second: Russia and Ukraine. Markets continue to watch for signs of a ceasefire or stand-down. Ukraine says it is ready for a maritime truce in the Black Sea, while Russia has indicated it will continue fighting during negotiations.

Third: Harvest weather. Wet weather is becoming a bigger story as harvest moves forward. Forecast models point to additional rain across the western Corn Belt, with parts of Iowa and Nebraska facing more moderate to heavy rainfall through the week.

And cattle? Nebraska is seeing some cash bids develop. The question now is whether that cash support can help cattle hold onto the green as futures trade through another choppy session.

Wednesday Market Wrap Up with Arlan Suderman at StoneX

Markets are being pulled in several directions as headline after headline changes the tone, with the United Nations meeting adding another layer of uncertainty.

Black Sea ceasefire chatter is getting attention after Ukraine said it would consider an unconditional ceasefire if Russia agreed. President Trump also said the U.S. is working with the leaders of Russia and Ukraine toward an end to the war.

Meanwhile, markets are looking ahead to Thursday’s Trump-Xi meeting, with trade and other economic issues expected to be closely watched. China has confirmed President Xi’s September 23–25 U.S. visit.

Diesel remains a market concern, while crop progress and increasing chances for rain are also being factored into grain trade.

And cattle couldn’t hold the green, giving back ground on the day as the market continues to navigate cash trade and shifting headlines.

Tuesday Market Wrap Up with Mike Zuzolo at Global Commodity Analytics

Markets kicked off the week looking ahead to Thursday’s Trump-Xi summit, with traders watching for any developments that could impact U.S. agricultural trade with China. Agriculture—especially soybean demand—is expected to be an important part of the trade discussions.

Export inspections came in strong for corn and soybeans, while wheat showed a noticeable setback.

Weather could slow the harvest pace, with the latest USDA Crop Progress Report expected to reflect some delays from recent rainfall.

Meanwhile, cattle pushed to hold the green, setting a stronger tone to start the week.

Monday Market Wrap Up with Conner Bridgman at AgMarket.net

Cattle and calves on feed for the slaughter market in the United States for feedlots with capacity of 1,000 or more head totaled 11.2 million head on September 1, 2026. The inventory was 1 percent above September 1, 2025.

Placements in feedlots during August totaled 1.62 million head, 9 percent below 2025. Net placements were 1.57 million head. Placements were the lowest for August since the series began in 1996. During August, placements of cattle and calves weighing less than 600 pounds were 320,000 head, 600-699 pounds were 240,000 head, 700-799 pounds were 355,000 head, 800-899 pounds were 387,000 head, 900-999 pounds were 230,000 head, and 1,000 pounds and greater were 85,000 head.

Marketings of fed cattle during August totaled 1.52 million head, 3 percent below 2025. Marketings were the lowest for August since the series began in 1996.

Other disappearance totaled 52,000 head during August, 2 percent above 2025.

Kyle Bumsted at Allendale breaks down the numbers

The impact of a hot July is starting to show up in corn yields, with early reports trending lower. Soybeans, however, continue to hold onto the possibility of record yields.

All eyes will also be on President Xi Jinping’s scheduled September 24 meeting with President Trump in Washington. Trade will be a key issue, and markets will be watching closely over the next several days for any developments that could impact U.S. agriculture.

Meanwhile, the cattle market remains on a roller coaster. With prices moving sharply, packers are working to limit momentum in the cash market.

Friday Market Wrap Up with David Ericson at Ag Optimus

Traders are watching closely to see whether corn makes its way into any Chinese purchase package tied to next week’s Trump-Xi summit. The U.S. balance sheet currently doesn’t include significant Chinese business, so any new purchase announcement could be a meaningful addition.

Meanwhile, harvest pressure is starting to build in corn and soybeans, with weather adding another layer of uncertainty to the market.

And in cattle, cash trade is moving ahead of tomorrow afternoon’s Cattle on Feed Report.

Three markets. Plenty of moving pieces. And traders are watching the headlines closely.

Thursday Market Wrap Up with Kyle Bumsted at Allendale:

The Fed raised interest rates 25 basis points this afternoon in a unanimous 12-0 vote, moving the federal funds target range to 3.75%–4.00%. It’s the first rate hike since 2023, with the Fed signaling that another increase could come later this year.

The move comes as markets watch the relationship between Fed Chair Kevin Warsh and the Trump administration, which has advocated for lower borrowing costs. The Fed says persistent inflation remains a concern.

Meanwhile, third-quarter GDP expectations are around 2.4%, pointing to continued economic growth despite the higher-rate environment.

And energy markets remain a major wild card. Reuters reports Saudi Arabia has canceled some September crude shipments to European customers following damage to its East-West pipeline, while crude loadings at the Yanbu port have been halted. Saudi Arabia is now increasing shipments through alternative routes, including transfers off Oman.

For agriculture, the fuel story is getting real—diesel has moved above $6 nationally, while some California stations have hit $9.99 a gallon.

And cattle? Another tough day. The market took another hit as money flow continues to move out of commodities, adding to pressure across the livestock complex.

Fed policy, crude oil, diesel and money flow—plenty of moving pieces for agriculture to watch.

Wednesday Market Wrap Up with Arlan Suderman at StoneX

The post-WASDE market reaction is still unfolding, and there are plenty of moving pieces to watch.

What’s the relationship between wheat and crude oil, and why are Saudi Arabia and global oil markets getting so much attention? With corn harvest now around 8% complete and soybeans at 6%, farmers are keeping a close eye on crude oil and what higher energy prices could mean for agriculture.

Meanwhile, the cattle market is lower once again, with the corn-feeder cattle relationship still very much in play.

From wheat and crude oil to harvest progress and cattle, the connections between these markets could be important as we head deeper into fall.

Tuesday Market Wrap Up with Mike Zuzolo at Global Commodity Analytics

Markets had the weekend to digest the latest WASDE report, with traders now turning their attention back to weather, harvest progress and global trade.

Harvest continues to push north, with central Illinois making progress, according to Conner Bridgman with AgMarket.net. Meanwhile, the high-pressure ridge over the U.S. continues to sink south, keeping the hottest temperatures focused on the Southern Plains and Delta while allowing ridge-riding storms to move across Nebraska, Iowa, southern Minnesota and northern Illinois this week.

The 10-day outlook is calling for at least two inches of rain across those areas, with some locations potentially seeing six inches or more. That could keep weather and harvest conditions firmly in the market spotlight.

Trade tensions are also building. Speculation is growing that President Xi may not attend next week’s meeting with President Trump, following reports that China could cancel the summit if the U.S. approves another arms sale to Taiwan. President Trump says he is not concerned and continues preparations for the planned visit.

The cattle market has started the week on firm footing. Cash trade once again waited until late in the week, with Northern cattle averaging $222 to $224 and Southern trade at $225 to $226. Some cattle traded Saturday, putting the weekly average $2 to $5 higher than the previous week.

With weather, trade headlines and cattle prices all moving, markets have plenty of potential catalysts heading into the week.

We saw USDA lower the national average corn yield by 2.2 bushels per acre with a slight uptick in the national average soybean yield in Friday's September WASDE report. There was also some other interesting changes of note both domestically and globally. Heather Ramsey with The ARC Group joins us for today's Market Wrap Up.