08/4/26 Key Near-Term Boundaries Established

08/04/2026 Click Above to Watch the Morning Market Talk Video Key Near-Term Boundaries Established On the Grains Corn, soybeans and wheat are favoring the downside early this morning as they failed to sustain strength from early in the overnight session. Near-term trading boundaries have been set in wide ranges from the July 24 highs to the Aug. 3 lows. December corn futures are holding near the middle of their nearly 34-cent range, while November soybeans and December SRW wheat futures are in the lower end of their respective 81- and 78-cent ranges. That gives traders room to maneuver markets as they price in weather, crop conditions, geopolitics, Chinese demand and other factors. USDA on Monday confirmed daily soybean sales of 488,000 MT to China and 136,150 MT to unknown destinations for 2026-27 delivery. More daily sales should be coming this morning. But traders are expecting it, so price impact will be limited unless any additional sales are stronger than anticipated. Russia and Ukraine continue their attacks in the Black Sea. A drone attack overnight hit a Turkish-owned vessel and seriously injured three crew members near Russia’s Novorossiysk port. But markets have grown numb to the constant headlines and the Black…