October 21, 2025
At this hour:
🌽Corn market is up 0-1c,
🌱soybeans are up 4-5c,
🍞wheat is down 0-1c,
🛢️crude oil is up 52-53c,
💲US Dollar is up 33-34 points.
-Treasury Secretary Bessent and China’s Vice Premier are set to meet in Malaysia this week to talk over a trade deal ahead of President Trump and President Xi meeting on October 31 in South Korea.
-Strong weekly export inspections in soybeans pushed them above resistance yesterday.
-President Trump announced he will stop payments to Colombia over alleged manufacturing/selling of illegal drugs. Colombia is U.S. 4th largest corn buyer.
-December corn continues to struggle with the $4.24-$4.25 area while November soybeans are trading above recent resistance.
🐂🐻Look for a mixed to higher trade today.
Support/Resistance:
December corn – Support on December corn is at $4.17 which is the 50-day moving average. Resistance is at $4.31 1/4 which is the high from September 16th.
July corn – Support comes in at $4.50 which is the 50-day moving average. Resistance comes in at $4.54 which is the 100-day moving average.
November soybeans – Support comes in at $10.01 which is the October 14th low. Resistance is at $10.52 3/4 which is the high from September 17th.
July soybeans – Support is at $10.69 which is the 100-day moving average. Resistance is at $11.09 1/2 which is the high from September 17th.
December Kansas City wheat – Initial support is at $4.77 1/4 which is the low from October 14th. Resistance comes in at $4.94 1/2 which is the 20-day moving average.
Where do we go from Here:
All eyes will be on Colombia this week as President Trump announced he will stop payments to their country for alleged manufacturing/selling of illegal drugs. This is significant in that Colombia is the 4th largest buyer of corn from the U.S. President Trump is also set to announce new tariffs on Colombian goods coming into the U.S. Corn harvest is estimated at 59% so as we get to the last 30-40% of the crop, this is typically the bushels that come to town due to farm storage being full. That seems to be keeping a lid on corn futures as the December contract struggles with the $4.24-$4.25 area.
November soybeans are working on their 5th day higher in a row and trading 35c off their low’s last week. Treasury Secretary Scott Bessent and China’s Vice Premier are set to meet up in Malaysia this week to continue talks over a trade deal. President Trump and President Xi are scheduled to meet October 31st in South Korea. The market seems a bit optimistic about a trade deal getting done. Strong weekly export inspections on soybeans this week helped push November soybeans above the 200-day moving average and looking to possibly test the $10.52 area. With harvest down to the last 15% or so, hedge pressure should be minimal so look for dips in the market to be supported.
December Kansas City wheat continues to struggle with the 20-day moving average. Weekly export inspections were within the trade range along with corn and soybeans higher, but wheat futures continue to struggle to get enough momentum to push a lot higher. The stronger U.S. Dollar this week is not helping keep U.S wheat competitive either. Look for wheat to continue its downtrend lower.
Upcoming USDA Reports:
We are not expecting any USDA reports until the Government is back open.
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