The Week That Was: August 24–28
Two storylines ran the board this week:
Pro Farmer's bearish Crop Tour yield read kept corn and soybeans bid.
A Black Sea port shutdown sent wheat to a three-year high.
Then Fed Chair Kevin Warsh's hawkish Jackson Hole debut hit gold and silver hard to close the week.
Here are the five daily editions readers opened most this week, ranked #1 to #5, with the story behind each and a link back to the full board.
#1 — Canola Skids 3.6%, Corn Jumps on Crop Tour Shock (Monday, Aug 24)
The week's most-opened edition. Pro Farmer's Crop Tour pegged the national corn yield at 173.2 bu/acre, well under USDA's 180.7, lifting corn 1.38% even as a soybean oil rout dragged canola down 3.57%, the board's biggest mover that day. Gold ground higher into Jackson Hole while WTI eased on cooling Hormuz risk.
#2 — Wheat Rockets 6.4% on Black Sea Port Shutdown (Wednesday, Aug 26)
A reader favourite. Russia's Novorossiysk grain terminals went dark after an August 12 drone strike, with repairs pegged at up to four months; SRW wheat jumped 6.40% and KC wheat 4.93% in the grain complex's best day in weeks.
Corn and soybeans extended their own crop-tour and China-demand rallies alongside the wheat surge, while gold and silver took a breather.
#3 — Wheat Extends Its Black Sea Rally as Corn Cools (Thursday, Aug 27)
The Black Sea wheat rally held for a second straight day, with all three U.S. wheat boards pushing higher and silver jumping 2.06% on gold's coattails.
Corn was the lone red print in the complex as traders took profits off the crop-tour run.
#4 — Canola Rebounds 2.5%, Crude Slides 3.1% on Iran Talks (Tuesday, Aug 25)
An Iran-U.S. diplomatic thaw pulled nearly $3 off WTI, its biggest hit of the week, even as canola clawed back above its 50-day average and corn extended its crop-tour rally on a fresh EU yield cut.
#5 — Gold, Silver Tumble Nearly 3% on Warsh's Hawkish Debut (Friday, Aug 28)
Fed Chair Kevin Warsh's hawkish first Jackson Hole speech spiked the dollar and sent gold down 2.88% and silver down 3.49% in their worst day in weeks, even as Chicago wheat pushed to a three-year high on Black Sea supply risk.
The Week in One Line
Throughline: Pro Farmer's bearish Crop Tour read and Russia's Novorossiysk port shutdown ran side by side all week, tightening the corn/soybean and global wheat pictures at the same time.
Standout: Chicago wheat's third straight up day put it at a three-year high, with the week's gain topping 12% — its biggest weekly move since March 2022.
Cross-market driver: Fed Chair Warsh's hawkish Jackson Hole debut on Friday reversed weeks of gold and silver strength in a single session, a reminder that the metals trade can turn on one Fed speech.
📌 Keep Reading
The Daily Board's weekly roundup recaps the five most-read daily editions, ranked by readership.
Nothing here is a trade recommendation.