What You Need to Know Today:

It was a quiet trading day across major agricultural commodities, with most contracts closing within 1 percent of the previous day's settlement. Trading volumes for corn and the soy complex were lighter than earlier in the week, as traders were positioning before and after the June WASDE was released. The major agricultural-related news today was JBS announcing the closure of its Souderton, Pennsylvania beef plant on 14 August. The plant had a slaughter capacity of about 2,000 cattle per day. The closure will affect approximately 1,700 workers. President Trump called Iran “dishonorable” after its state media reported inaccurate descriptions of a potential U.S./Iran agreement. Pakistan, a key mediato...