Weekly Market Pulse
Week of July 20, 2026
The following market indicators provide a snapshot of the economic and commodity trends most likely to influence agriculture, equipment demand, and manufacturing costs across the shortline industry.
🌽 Corn | 📈 Up: Corn futures climbed to approximately $4.65–$4.80/²ú³Ü as hotter, drier weather forecasts during pollination raised concerns about potential yield impacts. Markets remain highly weather-driven as the crop enters a critical development stage.
🌱 Soybeans | 📈 Slightly Up: Soybean futures edged higher to roughly $12.10–$12.30/²ú³Ü, supported by solid export demand and continued strength in renewable diesel markets. Weather remains the key factor influencing prices.
🌾 Wheat | ➡️ Firm: Wheat futures held near $6.30–$6.50/²ú³Ü as global supply concerns continued to offset harvest pressure. USDA’s reduced U.S. production outlook continues to lend support to prices.
🐄 Cattle | 📈 Record Highs: Cash cattle prices remain near historic highs due to tight herd supplies. Strong livestock profitability continues to support demand for hay, forage, feeding, and cattle-handling equipment.
🏗️ Steel | ➡️ Stable: Hot-rolled coil steel prices remained relatively steady around $850–$900/³Ù´Ç²Ô. Stable pricing is helping manufacturers plan production costs heading into the second half of the year, although tariffs and imported component costs remain a watch item.
⛽ Diesel | ➡️ Stable: Ultra-low sulfur diesel prices averaged $3.70–$3.85/²µ²¹±ô±ô´Ç²Ô this week. Fuel costs remain an important consideration for freight, field operations, and equipment delivery, but significant price swings have eased.
📡 Precision Ag & Electronics | 📈 Growing: Demand continues to expand for GPS guidance, controllers, sensors, displays, and ISOBUS-compatible components as growers look for technology that improves efficiency, reduces input costs, and extends equipment life.
🚜 OEM Outlook | ➡️ Steady: Manufacturers continue reporting healthy interest in retrofit equipment, labor-saving technologies, and precision agriculture solutions. While elevated borrowing costs continue to temper purchases of large machinery, demand for shortline equipment that improves efficiency remains resilient.
Sources: USDA, CME Group, Federal Reserve, Trading Economics, and industry market reports.