08/21/26 Afternoon CommStock Report – Sell the Grain Price Strength, Buy the Livestock Break?

The Commstock Report is a twice daily market report. 08/24/2026 Sell the Grain Price Strength, Buy the Livestock Break? PLEASE REFER TO THE BROKER COMMENTARY PAGE FOR UPDATES!! Click Above to Watch Brian’s Afternoon Market Update Bearish divergence at key price levels: The jury is still out on whether grain futures are in the process of breaking out or forming a top. There were signs of bearish divergence in the grains before Wednesday this week, when news about the Treasury Department’s bond repurchasing plans sent money flowing into commodities. Corn’s push to new highs was backed by considerable volume, but the question of new buying versus short covering remains. It also remains to be seen whether speculative profit-taking coincides with substantial farmer selling interest as grain futures trade around the psychologically important levels of corn at $5, soybeans at $12.50, and Chicago wheat at $7. Fund positioning becoming stretched: Managed money may have posted a record week of buying corn futures, likely bringing their net-long from 166,000 to more than 300,000 contracts after the reporting period that started with last week’s bullish crop report reaction. That position will still be short of the record net-long of 429,000 contracts, but large enough to…