November 19, 2025
At this hour:
🌽Corn market is down 0-1c,
🌱soybeans are down 5-6c,
🍞wheat is down 1-2c,
🛢️crude oil is down $.49-$.50,
💲US Dollar is up .23-.24
-Grain markets are starting out the day on Wednesday a little easier as we did not get any follow through soybean sales to China.
-Flash sale of 792,000 MT of beans sold to China was announced yesterday but that was priced into the market on Monday.
-Dryness in Brazil has a few concerns over the safrinha corn crop getting planted a bit too late.
-December corn futures closed above the 200-day moving average yesterday and are holding above it so far today.
🐂🐻 Look for a choppy to lower trade today.
Support/Resistance:
December corn – Support on December corn is at $4.32 which is the 20-day moving average. Resistance is at $4.42 3/4 which is the high form November 14th.
July corn – Support comes in at $4.60 1/4 which is the 20-day moving average. Resistance comes in at $4.74 1/2 which is the high from July 3rd.
January soybeans – Support comes in at $11.17 3/4 which is the 20-day moving average. Resistance is at $11.69 1/2 which is the high from November 18, 2025.
July soybeans – Support is at $11.44 1/2 which is the 20-day moving average. Resistance is at $11.81 1/2 which is the high from November 18, 2025.
December Kansas City wheat – Support is at $5.22 1/4 which is the 20-day moving average. Resistance comes in at $5.40 which is the high from November 5th.
Where do we go from Here:
Corn futures continue to consolidate around the 200-day moving average. The longer this area is resistance, the stronger area of support it will be when we close above the 200-day moving average more than 1-2 days. Soybeans have had a nice run up lately and feel like corn could be the next commodity to breakout to the upside. December corn options expire here on Friday so I would look for corn to continue to consolidate around the $4.30 area. Funds are estimated to still be carrying a short position and once we can stay above the 200-day moving average more than a couple days, we should see them cover the short positions and look to go long.
The soybean market feels a bit tired in here. They tried to rally again yesterday morning but failed putting in a higher high but closing lower. Flash sales announced of 792,000 MT of soybean is around 29-30 million bushels. The trade deal was for China to buy up to 12 MMT, so they have a way to go yet. President Trump has asked Treasury Secretary Scott Bessent to urge China to speed up their purchases of U.S. soybeans. So far after the flurry of activity on Monday, we have had no other rumors of China buying U.S. soybeans. Brazil continues to be cheaper on soybeans into China. Add on top of that a Fund positions that is rumored to be around 140,000 contracts long, the soybean market could be due for a pullback here soon.
Wheat futures are mixed here to start out the day. Spring wheat futures had a nice surge yesterday and has really been bull spreading this week heading up to test the 100-day moving average. There is not much new news in the wheat complex other than some spreading action between the different classes of wheat. Look for wheat to follow corn and soybeans as wheat on its own is a bit overpriced currently.
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