Summary: The August WASDE set fire to the trade as the funds liquidated positions crushing commodity prices. All three major commodities managed to rebound from weekly lows. For the week, September wheat nosedived 29 cents while the nearby corn contract plunged 39 cents. The WASDE combined with good weather across the Upper Midwest sent the soy complex plummeting. The September soybean contract was able to claw its way back for a 12 cent loss. September meal lost $3.60 per ton. December cotton expanded $1.23 per hundredweight.
