Tag: Soybeans

Morning Grain Comments – November 3, 2025

Grains and oilseeds are steady to higher on Monday following the overnight session. The U.S. dollar is higher. Crude oil is steady. Stock futures are higher following Friday’s losses.

Written by

Dawson Schmitt

·

November 3, 2025

Grains and oilseeds are steady to higher on Monday following the overnight session. The U.S. dollar is higher. Crude oil is steady. Stock futures are higher following Friday’s losses.

CORN

December corn is up 1 cent at $4.32 ½. March corn is up 1 cent at $4.45.

December futures finished 8.25 cents higher last week but were about a nickel lower than their highs for the week. A close above September’s highs favors the bull camp as short positions headed for the exit.

Last week’s high of $4.37 could serve as resistance before more notable buying occurs.

The market could still be looking for lower production numbers for the USDA, but that won’t be confirmed until the government begins releasing reports again. A press release last week showed that the agency will release its WASDE and Crop Production reports on Nov. 14 despite the government shutdown.

Brazilian consultancy firm AgRural reported that the country’s summer corn planting reached 60 percent as of last week, compared to 59 percent a year earlier.

SOYBEANS

January soybeans are up 4.25 cents at $11.19 ½. New crop November soybeans are unchanged at $11.06. Soybean oil is lower following Friday’s downside breakout to fresh multi-month lows.

Futures surged overnight following Friday’s higher close, though the market began to reverse gains leading up to this morning.

As mentioned, soybean broke below support and fell to the lowest level in more than four months. The EPA was supposed to release key biofuel policy announcements by this week. However, the government shutdown will likely delay key rules to direct biofuel demand for the next two years.

The lack of details regarding China’s future purchases of U.S. soybeans still leaves uncertainty for U.S. soy demand the longer the EPA waits to release blending obligations.

AgRural reported that Brazil’s soybean planting reached 47 percent complete last week. That compared to 54 percent the same week last year. Irregular rainfall slowed progress in some areas. Planting in Mato Grosso also fell below last year’s pace and the five-year average.

WHEAT

December Chicago wheat is up 7 cents at $5.41. KC wheat is up 4.25 cents at $5.28 ¾. Spring wheat is up 4 cents at $5.57.

As expected by Friday afternoon, Chicago wheat futures appeared to be willing to retest resistance that it struggled at most of last week. Prices broke above their late-summer highs overnight, pushing above the 100-day moving average for the first time since June.

Open interest and trading volume recovered on Friday in support of those gains. A notable move above old resistance could attract new buyers.

Bloomberg reported that China is seeking to buy U.S. wheat for the first time in more than a year. Wheat did not seem to be mentioned in last week’s U.S.-China trade news, but competitive U.S. prices may be looking attractive amid good-faith soybean purchases.

China’s wheat imports have been running at the slowest pace since 2016.

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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.
Corn export inspections surge near season highs

U.S. corn export inspections surged dramatically last week, while soybean movements continued to dip, according to the USDA’s latest grain export inspections report. Wheat exports also found solid footing.

Written by

Dawson Schmitt

·

November 3, 2025

U.S. corn export inspections surged dramatically last week, while soybean movements continued to dip, according to the USDA’s latest grain export inspections report. Wheat exports also found solid footing.

For the week ending Oct. 30, corn export inspections totaled 1.67 million metric tons (MMT), up 234 percent from the previous week and more than double the volumes seen the same week last year. Shipments fell short of their marketing-year high but were the second-highest for the season.

Mexico was the No. 1 destination for U.S. corn last week, followed by South Korea, Japan, and Spain. Accumulated inspections for the season rose to 12.26 MMT, sitting 64 percent higher year-over-year.

Sorghum export inspections rebounded by 76 percent last week to 67,500 metric tons (MT). All of the grain was bound for Saudi Arabia for the week. However, movements for the 2025/26 season remained nearly 60 percent behind last year at 229,200 MT.

Soybean movements fell for a second consecutive week, dipping 17 percent from the previous week to 965,100 MT. Volumes were also 58 percent lower than a year ago. Shipments tend to soften heading deeper into the fall. However, the lack of demand from China has kept inspections relatively low.

Traders have told media outlets that China has been buying U.S. soybeans. However, those reports haven’t been confirmed due to the lack of USDA data during the government shutdown. The bushels that China has allegedly bought may also not show up in weekly shipment data until next year following large purchases from Argentina.

Last week, Egypt was the No. 1 destination for U.S. soybeans. Italy, Mexico, Japan, and Vietnam were also in the top five. Marketing year-to-date soybean inspections reached 7.78 MMT, which were 40 percent lower than a year ago.

Wheat export inspections rebounded to 350,300 MT, up 30 percent from the previous week and 61 percent higher than the same week last year. Wheat shipments have entered their seasonal lull but remain higher than in previous years.

The Philippines was the top destination for wheat shipments last week. South Korea, Nigeria, and Mexico also landed in the top five.

Total inspections for the 2025/26 marketing year rose to 11.83 MMT, sitting 20.5 percent higher than a year ago. Bloomberg reported that China is seeking to buy U.S. soft red winter wheat as a “goodwill gesture” following recent talks between President Trump and President Xi.

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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.
Morning Grain Comments – October 31, 2025

Grains and oilseeds are lower on Friday, as prices trading up to resistance levels spooked market participants ahead of the weekend, leading to profit-taking and hedging pressure. The U.S. dollar continued to push higher. Crude oil is higher. Stock futures are higher after yesterday’s losses.

Written by

Dawson Schmitt

·

October 31, 2025

Happy Halloween. Grains and oilseeds are lower on Friday, as prices trading up to resistance levels spooked market participants ahead of the weekend, leading to profit-taking and hedging pressure. The U.S. dollar continued to push higher. Crude oil is higher. Stock futures are higher after yesterday’s losses.

CORN

December corn is down 2.50 cents at $4.27 ¾. March corn is down 2.75 cents at $4.41.

December corn closed above the $4.30 level for a third session on Thursday as prices continued to test the 200-day moving average. The overnight session brought additional hedging pressure and profit-taking, pushing futures below a nearby support area.

Solid demand continues to be a tailwind for corn, with strong weekly exports and stable ethanol demand.

The Buenos Aires Grain Exchange reported that Argentina’s corn planting reached 35 percent complete, up slightly from the previous week, as excess moisture slowed progress in some areas. Crop conditions continued to be favorable.

SOYBEANS

January soybeans are 3.50 cents lower at $11.04 ¼. New crop November soybeans are down 2.50 cents at $10.93. Soybean meal is lower. Soybean oil is lower.

Futures experienced a volatile trading day on Thursday following the positive news from the Trump-Xi meeting. The prospect of China buying large volumes of U.S. soybeans this season allowed soybeans to hold onto their double-digit gains.

Prices could experience pressure today if producers capitalize on multi-month highs. Soybean meal has been the strongest leg of the complex, trading higher for 13 consecutive sessions on the prospect of fewer soybeans available for domestic crush.

Bloomberg reported overnight that China bought another 250,000 MT of U.S. soybeans for delivery early next year.

The U.S. will continue to investigate China’s trade practices that do open the door for new tariffs on goods. The current “deal” should be considered a truce until details are penned into an official agreement.

WHEAT

December Chicago wheat is down 6 cents at $5.18 ¼. KC wheat is down 6.75 cents at $5.06 ¼. Spring wheat is up 1 cent at $5.51 ½.

December Chicago futures struggled to trade above the $5.34 resistance level for a third session. The lack of buyer sent prices 8 cents lower on Thursday as the market exuberance dried up.

Technically, the Chicago contract failed to post a higher high on the latest rally, leaving the trend bias lower. Futures may attempt to test the October lows around $5. Prices holding above that level could signal a near-term bottom for the wheat market heading into the winter.

The Buenos Aires Grain Exchange reported that the country’s wheat harvest advanced at a decent pace over the past week, though there has been excessive moisture in some areas that were ready for harvest.

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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.
Morning Grain Comments – October 30, 2025

Grains and oilseeds are mixed on Thursday following the overnight session. Positive news came from the meeting between President Trump and Xi last night, which helped soybeans. The U.S. dollar also surged around the news. Crude oil is lower. Stock futures are sharply lower.

Written by

Dawson Schmitt

·

October 30, 2025

Grains and oilseeds are mixed on Thursday following the overnight session. Positive news came from the meeting between President Trump and Xi last night, which helped soybeans. The U.S. dollar also surged around the news. Crude oil is lower. Stock futures are sharply lower.

CORN

December corn is up 0.50 cents at $4.34 ½. March corn is down 0.25 cents at $4.46 ½.

Futures continued to post fresh high closes on Wednesday, with the December contract trading 2 cents higher. Prices sold off overnight but ran out of sellers around the $4.28 ½ to $4.30 support level.

Corn seems to be following the soybean market, as the two compete for acres next year. Overnight weakness in wheat is also weighing on corn.

U.S. ethanol production continued to run at seasonal highs, with output averaging 1.091 million barrels a day last week. Margins remain positive, with strong demand for ethanol exports driving optimism.

SOYBEANS

January soybeans are up 15 cents at $11.09 ½. New crop November soybeans are up 0.75 cents at $10.99 ¼. Soybean meal is sharply higher. Soybean oil is lower.

Futures surged overnight following positive developments from the Trump-Xi meeting. The U.S. and China agreed to suspend the tit-for-tat reciprocal port fees by one year.

Additionally, U.S. Treasury Secretary Scott Bessent said China has agreed to buy 12 MMT of soybeans this year. Additionally, China said it will buy a minimum of 25 million metric tons of soybeans annually for the next three years.

That is great news, but it’s important to keep in mind that this is not a set in stone deal

It makes sense that soybean meal is rallying on this news. Pulling those bushels to China means less domestic crush when our export demand has been relatively strong.

WHEAT

December Chicago wheat is down 4 cents at $5.28 ¼. KC wheat is down 5.75 cents at $5.17. Spring wheat is up 0.25 cents at $6.24 ½.

Futures struggled to hold onto gains overnight after testing the $5.34 resistance level again, which is also around the 100-day moving average. That level is proving to be more difficult to move past. A move above it could open the door to additional short-covering.

For now, wheat seems to be the follower of this current move.

Russia’s October wheat exports are expected to reach between 5.1 and 5.7 MMT, according to Russian-based analysts. Russia’s wheat exports this season have been running about 30 percent behind last year.

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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.
China to buy 12M tons of soybeans this year, White House says

China reportedly agreed to buy 12 million tons of U.S. soybeans this year and at least 25 million annually for the next three years, following talks between Presidents Trump and Xi. There was no official deal signed between the two countries.

Written by

Dawson Schmitt

·

October 30, 2025

U.S. Treasury Secretary Scott Bessent said China agreed to buy 12 million metric tons (MMT) of soybeans this year. Additionally, China said it will buy a minimum of 25 MMT of soybeans annually for the next three years.

Trump and other White House officials announced the news early on Thursday following talks between President Trump and Xi.

China imported 27 MMT of U.S. soybeans during the 2024/25 season.

There was no confirmation of an official bilateral deal, similar to the Phase One trade agreement. Trump said in a social media post that a deal could be signed “pretty soon.”

The news comes after Bloomberg reported that China recently bought 3 cargoes of U.S. soybeans, the equivalent of about 180,000 metric tons.

Also a part of the tentative agreement, the U.S. and China agreed to suspend tit-for-tat shipping fees for one year. Those fees had gone into place on Oct. 14, creating a short-term bottleneck. The U.S. still plans to incentivize U.S. shipbuilding to enhance the American supply chain.

Soybean futures surged to the highest level in about 15 months this week leading up to the media reports. January futures topped $11 a bushel before giving back some of those gains.

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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.
Morning Grain Comments – October 29, 2025

Grains and oilseeds are lower on Wednesday after yesterday’s gains to fresh multi-month highs. President Trump is set to meet with Chinese President Xi tomorrow at the APEC summit in South Korea.

Written by

Dawson Schmitt

·

October 29, 2025

Grains and oilseeds are lower on Wednesday after yesterday’s gains to fresh multi-month highs. President Trump is set to meet with Chinese President Xi tomorrow at the APEC summit in South Korea.

CORN

December corn is down 1 cent at $4.31. March corn is down 2 cents at $4.44.

Futures advanced for a second day this week, with the December contract gaining 3.25 cents on Tuesday. Prices were unable to hold onto all of the gains and closed below the 200-day moving average.

Futures ended up filling a gap around $4.32 after failing to do so during a move higher in September. Current support is around the $4.28-$4.30 level.

President Trump announced a trade deal with South Korea overnight. The deal was geared toward shipbuilding, though it could be a step toward more positive relations that could seep into commodities.

SOYBEANS

January soybeans are 9.25 cents lower at $10.86. New crop November soybeans are down 5 cents at $10.98. Soybean meal is moderately higher following yesterday’s sharp gains. Soybean oil extended recent losses.

An upside breakout in soybean meal futures continued to lead soybeans higher on Tuesday, with the January contract trading at $11 for the first time in over a year. Meal futures have traded higher for 11 consecutive sessions, with U.S. prices at a strong premium compared to Argentina and Brazil.

China allegedly bought at least two cargoes of U.S. soybeans ahead of the Trump-Xi talks. Bloomberg cited “people familiar with the matter,” while Reuters reported that China’s state-owned COFCO bought three cargoes, corroborating that at least some purchases are on the books.

Still, soybean futures sold off following the news in a “buy the rumor, sell the fact” situation. Futures have been banking on the possibility of China buying U.S. beans, but they still need to be shipped. Eyes will be on this week’s meeting to see if larger purchases are announced.

WHEAT

December Chicago wheat is down 1.50 cents at $5.27 ½. KC Wheat is down 0.25 cents at $5.19 ¾. Spring wheat is down 2 cents at $6.23 ¾.

Futures continued to follow the corn and soybeans higher on Tuesday and posted a gain of 3 cents on the December Chicago contract. However, prices quickly met resistance around the $5.34 level, as expected.

Trading was fairly quiet overnight, though prices softened with the rest of the grains markets. Speculative short-covering seemed to be the primary driver of the recent rally, leaving the potential for prices too cool before new buyers step in.

Weather for the Southern Plains is expected to turn drier over the next week following the recent rainfall.

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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.
Brazil crop plantings move along despite below average rainfall

oybean and corn planting in Brazil continues amid mixed rainfall, while a cold front may boost late-week progress. Corn planting moved steadily in Argentina, while the wheat harvest gained speed with strong yields and mostly excellent crop conditions.

Written by

Dawson Schmitt

·

October 29, 2025

Soybean and corn planting in Brazil continues amid mixed rainfall, while a cold front may boost late-week progress. Corn planting moved steadily in Argentina, while the wheat harvest gained speed with strong yields and mostly excellent crop conditions.

Brazil

Brazil’s soybean planting reached 36 percent complete as of Oct. 23, according to Brazilian consultancy firm AgRural. Progress compared to 24 percent a week earlier and aligned with progress the same week last year. The firm noted that the weather was generally favorable for fieldwork last week. Plantings reached 60 percent, up from 55.7 percent a year ago. Progress remained ahead of the five-year average but has slowed relative to recent years this month.

Much of Brazil has received below-average rainfall over the past 30 days, according to NOAA models. Rains have been lackluster this season despite the presence of La Niña, which typically favors rainfall in Central Brazil.

A cold front could bring wetter weather in Mato Grosso through Parana this week. Above average rainfall could open up to a larger area in the week two forecast, which could continue to support planting through the final stretch.

Brazil’s summer corn planting reached 55 percent complete in the country’s Center-South region. That compared to 51 percent a week ago and 53 percent last year.

Argentina

Corn planting in Argentina reached 33.8 percent complete as of last week, up 41.1 percentage points from the previous week, according to the Buenos Aires Grain Exchange on Friday. Progress

Weather conditions have generally favored crop planting and establishment. However, the government said there is an increasing need for rainfall in northern areas of Argentina. Other regions such as central and western Buenos Aires have been experiencing excessive rainfall.

Meanwhile, Argentina’s wheat harvest is moving along rapidly due to higher temperatures countering rainfall. The exchange reported that progress reached 5.3 percent complete last week.

Preliminary harvest reports show that yields are exceeding the five-year average following “excellent conditions that supported crop development.” Crop development has been running ahead of the five-year average for areas that have yet to be harvested. Eighty-eight percent of the crop was rated in good-to-excellent condition.

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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.
US grain exports slip as soybeans, wheat slow

U.S. grain exports eased last week, with corn and wheat volumes down from the prior week and soybeans falling sharply amid smaller shipments to key buyers. Despite the pullback, corn exports remain well above average, while soybean movements continue to lag last year’s pace.

Written by

Dawson Schmitt

·

October 28, 2025

U.S. grain exports softened last week, according to the USDA’s latest export inspections report on Monday. U.S. corn movements declined 10 percent from the previous week to 1.19 million metric tons (MMT) during the week ending Oct. 23. Volumes remained 38 percent ahead of the same week last year and well above the five-year average.

Mexico was the top destination for the week, followed by Colombia and South Korea. Portugal and Honduras also landed in the top five.

Accumulated corn inspections for the marketing year rose to 10.53 MMT, up 58 percent year-over-year.

Soybean export inspections fell to 1.06 MMT, down 33 percent from the previous week and 60 percent lower than the same week last year. Shipments declined sharply due to smaller volumes to key buyers.

Mexico remained the top destination, with 155,000 metric tons (MT), compared to 221,000 MT the previous week. Egypt was the second-largest destination last week but still took fewer soybeans than the previous reporting period.

Year-to-date soybean inspections rose to 6.72 MMT, down 37 percent from a year ago. Mexico remained the largest destination for U.S. soybeans during the 2025/26 season, representing about 16 percent of total exports. Egypt the second-largest destination (13 percent), followed by Bangladesh (7.7 percent) and Pakistan (6.7 percent).

U.S. wheat export inspections fell 48 percent last week to 258,500 MT. Volumes were also 12 percent lower than the same week last year. Movements remained above the five-year average despite slipping below year-ago levels.

Wheat exports tend to hit their seasonal low in October and November before gradually increasing throughout the winter months. South Korea was the top destination for the week, followed by Vietnam and Japan.

Total inspections for the marketing year rose to 11.46 MMT, up nearly 20 percent from last season. Mexico has been the top destination of those exports this season, with the Philippines as a far second.

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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.
Morning Grain Comments – October 28, 2025

Grains and oilseeds surged for another day on Tuesday amid continued optimism on U.S. and China relations. The U.S. dollar is higher. Crude oil is higher. Stock futures are higher and pushing to new records.

Written by

Dawson Schmitt

·

October 28, 2025

Grains and oilseeds surged for another day on Tuesday amid continued optimism on U.S. and China relations. The U.S. dollar is higher. Crude oil is higher. Stock futures are higher and pushing to new records.

CORN

December corn is up 2.75 cents following the overnight session at $4.31 ½. March corn is up 2.50 cents at $4.46 ¾.

Corn futures extended gains for a second day on Tuesday, with prices pushing up to the 200-day moving average for the first time since May.

The U.S. corn harvest is nearing completion, with some delays from recent rain.

Conditions are favorable for planting and establishment in southern Brazil and Argentina.

SOYBEANS

January soybeans are up 10.25 cents at $10.95 ¼. November soybeans are 6 cents higher at $11 even. Soybean oil is lower. Soybean meal is sharply higher following an upside breakout above $300 per ton.

Soybean futures extended their rally to 15-month highs ahead of President Trump’s meeting with President Xi on Thursday. The White House has been touting that China is going to make “substantial” soybean purchases after negotiators came to terms on multiple contentious points.

China has yet to confirm that claim. However, purchases from the country would add to soybean demand that was already strong from non-China buyers ahead of the government shutdown.

WHEAT

December Chicago wheat is up 5.75 cents at $5.31 ¾. KC wheat is up 5.75 cents at $5.20. Spring wheat is up 4.50 cents at $5.64 ¾.

Futures surged along with corn and soybeans this week. December Chicago is nearing resistance levels from August around $5.34, which is also near the 100-day moving average. The recent rally has been driven by speculative short-covering as traders have been unwilling to hold onto losing positions.

Global wheat prices have also been turning higher. It seems like the market is finally moving past the significant amount of bearish news we’ve seen over the past few months.

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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.
Morning Grain Comments – October 27, 2025

Grains are sharply higher on good news coming out of preliminary US/China trade talks.

Written by

Dawson Schmitt

·

October 27, 2025

Grains are sharply higher on good news coming out of preliminary US/China trade talks.

CORN

December corn is up 6.50 at $4.2975. March corn is up 7 cents at $4.44.

Corn’s positive price action is being complemented and accelerated this morning after the market sees strong optimism that the US/China trade relations are actually making progress.

SOYBEANS

November soybeans are up 23 at $10.6475. January soybeans are up at $10.81.5. Soybean oil is higher, while soybean meal is up 2.90.

Same thing here. Up on China optimism. The difference here is beans are at a battle ground of long term resistance following a large gap open higher. While corn is also at a certain level of resistance, it’s been set to challenge that for sometime.

WHEAT

December Chicago wheat is up 12.50 at $5.25. KC wheat is up 11.25 at $5.1275. Spring wheat is up .0825 at $5.6525.

The stage is set here for more short covering after Chicago failed last week to make material new lows on not so positive news.

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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.
Soybeans rally in response to U.S. – China talks

Soybeans and other grains surged higher as the potential for U.S. and China trade is revived with talks over the weekend.

Written by

Dawson Schmitt

·

October 27, 2025

Soybeans and other grains surged higher as the potential for U.S. and China trade was revived with talks over the weekend.

Soybeans for January delivery rose 2% to $10.81 per bushel in Chicago, a five-month high, after US Treasury Secretary Scott Bessent said China would make “substantial” purchases of the oilseed.

In comments made Monday, the Chinese Communist Party’s official mouthpiece stopped short of confirming plans to renew purchases of U.S. soybeans.

Bloomberg reported that agricultural trade was one of the issues discussed by American and Chinese negotiators that allegedly reached an agreement over the weekend. Donald Trump and Xi Jinping are expected to meet in South Korea during the APEC summit, giving them an opportunity to finalize a deal.

China, the world’s top soybean importer, has drastically reduced its soybean purchases from the U.S., with virtually no sales since May and none in September for the first time in seven years, according to Reuters.

Instead, the country has turned to South American suppliers. U.S. farmers with high supplies of soybeans have urged the government to reach an agreement to restart sales of the crop.

December wheat futures also gained 2.7% to $5.26 per bushel and corn contracts for December gained 1.5% to $4.2975 per bushel this morning.

PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.
Morning Grain Comments – October 24, 2025

Grains are mostly slightly lower following the overnight session. Stepping back from a few days of firm trade. Equities and bonds are higher on a CPI report that showed inflation was less than expected in the previous reporting period. Showing optimism that the Fed can continue to cut rates.

Written by

Dawson Schmitt

·

October 24, 2025

Grains are mostly slightly lower following the overnight session. Stepping back from a few days of firm trade. Equities and bonds are higher on a CPI report that showed inflation was less than expected in the previous reporting period. Showing optimism that the Fed can continue to cut rates.

CORN

December corn is down 2.50 at $4.2550. March corn is down 2 cents at $4.3925.

Corn steps back here as it approaches the 4.30 area of resistance. Multiple strong days of trade has momentum higher and optimism that we will be able to finally get through, or at least challenge, what is left of the July 4th weekend gap at 4.3275. With harvest likely beyond 50% and hedge pressure presumably subsiding, all eyes will be on trade negotiations with China. The US and China will have talks this weekend in preparation for the Trump/Xi meeting that is, for now, set for next Thursday.

SOYBEANS

November soybeans are down 1.50 cents at $10.4325. January soybeans are down 1.50 cents at $10.6050. Soybean oil is lower, while soybean meal is higher.

Rumors abound yesterday that China is undercover buying soybeans and wheat while government reporting is offline. An idea we proposed as a potential before it was even official that the government was going to shut down. This should be no surprise to any of us. If anything, I think it would be extremely disappointing if they, or any other importer for that matter, was not trying to covertly scoop up supplies.

WHEAT

December Chicago wheat is down .25 at $5.1275. KC wheat is flat at $5.00. Spring wheat is down .0125 cents at $5.5675.

Wheat presumably had a round one spat with some short covering. Its inability to make materially new lows with continued “bad news” over the past few weeks and rumors of undercover export sales sent the market higher. The US crop continues to get established in good shape and the same could be said about the European crop.

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PAST PERFORMANCE IS NOT INDICATIVE OF FUTURE RESULTS. FUTURES TRADING INVOLVES SUBSTANTIAL RISK AND IS NOT SUITABLE FOR ALL INVESTORS.