August 28, 2025
At this hour:
🌽Corn market is up 0-1c,
🌱soybeans are down 1-2c,
🍞wheat is down 1-2c,
🛢️crude oil is down 32-34c,
💲US Dollar is down 15-16 points.
-Vietnam is submitting a proposal to blend E10. This move could pave the way for more ethanol exports from the U.S. to Vietnam.
-Corn harvest is picking up steam and should be rolling good into next week. More corn might move to town off the combines due to the weak soybean basis out in the country and big carries.
-Weekly export sales will be released this morning at 7:30 am CDT. Here are the estimates: corn 1,000,000-2,700,000 metric tons, soybeans 250,000-1,000,000 metric tons, soybean meal 125,000-450,000 metric tons and wheat 400,000-650,000 metric tons.
-Wheat broke down and made new lows yesterday. Hedge pressure as the farmer is selling wheat for cash flow purposes and making space for corn and soybeans this fall.
🐂🐻Look for a mixed trade today.
Support/Resistance:
September corn – Support on September corn is at $3.82 3/4 which is the 20-day moving average. Resistance is at $3.96 1/4 which is the high from August 1st.
December corn – Support comes in at $4.05 1/4 which is the 20-day moving average. Resistance comes in at $4.16 which is the high from August 1st.
September soybeans – Support comes in at $10.17 1/2 which is the 100-day moving average. Resistance is at $10.50 which is the high from July 3rd.
November soybeans – Support is at $10.26 1/4 which is the 200-day moving average. Resistance is at $10.74 1/4 which is the high from June 20th.
September Kansas City wheat – Initial support is at $4.84 which is the low from August 27th. Resistance comes in at $5.05 1/4 which is the 20-day moving average.
Where do we go from Here:
December corn futures traded a little below the 20-day moving average yesterday but managed to settle above the 20-day moving average. This is a support line that if it is taken out, we would head down and test support at $4.00. Demand for U.S. corn continues to run very strong, especially on the exports and traders are looking for another big week of export sales. If Vietnam passes the E10 mandate, that could open up the door form more ethanol export to them as well. Look for corn to be supported on any breaks below $4.00 on the December contract.
November soybeans had an inside trade yesterday. After putting in our high last Friday, November soybeans have pulled back 21+ cents and now starting to consolidate. Eastern part of the U.S. continues to look dry, causing concern over the soybean crop finish. Harvest is still a few weeks away and the U.S./China trade deal is still on hold. Until we get some harvest data or a trade deal with China, soybean futures look to consolidate.
Wheat futures made fresh contract lows again yesterday. Hedge pressure is what pushed the wheat prices lower. Combination of free storage programs running out at the end of August here across the U.S. and a spring wheat crop that is getting hauled to town and turned into cash to meet cash flow needs and make room for a large corn and soybean crop, added pressure to the already weak wheat market. Until corn futures can rally, wheat futures should stay under pressure as well.
Upcoming USDA Reports:
September 2, 2025 – Weekly Crop Progress Report
September 8, 2025 – Weekly Crop Progress Report
Are you new here? Click here to subscribe and receive the newsletter in your inbox.
