June 27, 2025
At this hour:
🌽Corn market is up 4-5c,
🌱soybeans are up 3-4c,
🍞wheat is up 4-6c,
🛢️crude oil is up 55-56c,
💲US Dollar is down 8-9 points.
-The Trump Administration said they signed a trade deal with China a couple days ago. However, the details of the deal have been slow to come out.
-A few rains showers across western South Dakota and northeast Missouri this morning.
-The U.S. Dollar traded below 97 yesterday for the first time since early March 2022.
-Weather forecasts are calling for seasonal temps and average rainfall for the U.S. for the next 10-15 days.
-Traders are positions themselves for the Planted Acreage and Grain Stocks report to be released on Monday. Trade is looking for a slight increase in corn acres and a small increase in soybeans acres.
-Grain Stocks report could be the wild card on Monday. There are a lot of unknowns that go into the Grain Stocks report and a bit hard to predict.
-The June 30th Planted Acreage and Grain stocks report is usually one we get some movement in grain prices. On average we see a 4.8% move in corn and 3.1% move in soybeans.
🐂🐻Look for a little higher trade today to wrap of the last full week of June trading.
Support/Resistance:
July corn – Support on July corn is at $4.08 which is the low from June 25th and a double bottom. Resistance is at $4.31 1/2 which is the 20-day moving average.
December corn – Support comes in at $4.19 which is the low from June 26th. Resistance comes in at $4.37 1/4 which is 20-day moving average.
July soybeans – Support comes in at $10.17 1/4 which is the low from June 26th. Resistance is at $10.47 1/2 which is the 200-day moving average.
November soybeans – Support is at $10.17 which is a support/resistance line. Resistance is at $10.33 1/4 which is the 200-day moving average.
July Kansas City wheat – Initial support is at $5.17 3/4 which is the low from June 17th. Resistance comes in at $5.38 1/4 which is the 20-day moving average.
Where do we go from Here:
Corn is getting a little bounce higher today. Combination of being down all week going into the weekend and President Trump announcing he signed a trade deal with Chian, but the details of the trade deal are slow to come out. Traders are positioning themselves for the USDA Planted Acreage and Grain Stocks report set to be released Monday morning. Once the report is behind us, the focus will shift back to weather and as of today, the weather looks pretty good.
Soybean futures are higher this morning after 5 lower days in a row. November soybeans seem to be holding support around the $10.17 area and so far, today they are working on and outside day higher. The trade is looking for soybean acres to increase by about 160,000 acres from the March Planting Intentions and that is mostly from prevent plant acres are likely to be lower than average this year. The Funds continue to hold a small, long positions and that will likely be the case until we get part way through July to see what the extended forecasts are for the month of August.
There is not a lot of new fundamental news for the wheat complex. July Kansas City wheat seems to be holding support around $5.18 after pushing below that level on the overnight session. Rallies in wheat will be limited due to harvest ramping up and we are hearing many reports of decent quality and great yields. The U.S. Dollar trading down to the lowest level since March 2022 should help keep U.S. wheat competitive in the World.
Upcoming USDA Reports:
June 30, 2025 – USDA Planted Acreage & Grain Stocks Report
June 30, 2025 – Weekly Crop Progress Report
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