Your Pro Farmer newsletter (July 27, 2024) is now available

Funds covered some of their record net short positions in the corn and soybean markets last week, which allowed futures to work off their recent lows. But given generally favorable weather, both markets face headwinds to sustained price recoveries. The annual Wheat Quality Council HRS tour found strong yield potential in top producer North Dakota, which helped keep a lid on the wheat market. On the political front, President Joe Biden withdrew from the presidential race and Vice President Kamala Harris garnered enough Democratic delegates to be former President Donald Trump’s new challenger. Our News page 4 feature this week takes a look at how Harris stacks up against Trump on some of the key issues for agriculture. China shocked markets by unexpectedly cutting interest rates and making other monetary policy moves in hopes of boosting its sluggish economy. We cover all of these items and much more in this week’s newsletter, which you can download here.