Corn futures broke to new contract lows yesterday in a fairly quiet/slow trading session.
Live cattle futures traded to firm up but ended the session near unchanged after trading on both sides. We continue to question the value in front-month futures.
December corn futures finished Friday's session on softer ground, spilling over into early morning weakness to start the new month. We are taking the light volume overnight/early morning trade with a grain of salt, as usual.
Cooler weather continues to be a concern for the late-planted crop, if it stays in the forecast through the weekend, we would expect to see more premium come into the market.
Production seems to be lower in cotton, so prices should move higher. Another factor that could come into play is the tropical storm Dorian headed for the coast. Cotton in Florida could be greatly affected.
U.S. and Chinese trade talks look more optimistic - for the moment. Trader focus on cooler weather in Midwest and early frost.
The current cocoa trade could be broken up between short-term and long-term outlooks. Global equities have caused short-term trade to be volatile.  
Daily ranges have started to narrow as market participants search for new news. Market participants will continue to keep a close eye on weather as cooler temps work through the Midwest. The risk of an early frost still lingers in the back of our minds.
December corn futures tried but failed miserably to work higher on the back of positive news regarding trade with Japan, cooler weather, and the Pro Farmer crop tour findings.
Corn futures finished last week’s trade with a new closing low. Headlines regarding trade with China have been bi-polar over the last 48 hours, seen by the broader grain market price action.