December 23, 2025
At this hour:
🌽Corn market is up 1-2c,
🌱soybeans are up 2-3c,
🍞wheat is up 0-1c,
🛢️crude oil is up $0.10-$0.11,
💲US Dollar is down 38-39 points
-China bout 396,000 MT of soybeans yesterday. 66,000 MT were for 2026/27 marketing year.
-Weekly export inspections saw another strong week for corn, wheat inspections above the trading range and soybean inspection were within expectations.
-Corn exports are running 68% ahead of last year while soybeans are just 46% of last year’s pace.
-Good rains in Brazil recently has the crop looking really good. There could be some dryness setting up for Argentina in the 7-14-day forecast.
-The U.S. Dollar is breaking below 98 this morning.
🐂🐻 Look for another higher trade today.
Support/Resistance:
March corn – Support on March corn is at $4.37 1/2 which is the 100-day moving average. Resistance is at $4.52 1/4 which is the December 2nd high.
July corn – Support comes in at $4.53 which is the 100-day moving average. Resistance comes in at $4.65 which is the December 2nd high.
January soybeans – Support comes in at $10.46 1/2 which is the high from October 3rd. Resistance is at $10.66 1/2 which is the 10-day moving average.
July soybeans – Support is at $10.80 1/2 which is the low from December 19th. Resistance is at $10.98 which is the 10-day moving average.
March Kansas City wheat – Support is at $5.03 1/4 which is the October 21st low. Resistance comes in at $5.22 3/4 which is the 20-day moving average.
Where do we go from Here:
March corn futures are working on closing above the 200-day moving average for the second day in a row. Over the past couple months, March corn futures have closed above the 200-day moving average 1 day, but we quickly move back below the 200-day moving average the next day. Why is the 200-day moving average important? This is a level in which we typically see the Funds cover their short positions so we could see some buying surface to support prices. Farmer selling has gone quiet the past few weeks, and we have a lot of traders out for Christmas holiday this week. Demand continues to be very impressive with another huge week of corn export inspections.
January soybean futures finally closed higher yesterday after 6 lower trading days in a row. Export inspections did see an uptick and China stepped in and bought another 396,000 mt of soybeans from the U.S. January futures are struggling a bit with the 200-day moving average. The U.S. Dollar is lower today and broke below the 98-level adding more support to U.S. grain prices. Brazilian soybeans are still cheaper than U.S. soybeans, but that gap is tightening. Brazil had some impressive rains recently and one local analyst in Brazil raised their estimate on the Brazilian soybean crop. Look for support on January soybeans around $10.50 to hold but rallies will be limited.
Tensions in the Black Sea region continue to add support to the wheat market. A sunflower oil facility in Odessa was struck by Russian drones giving U.S. wheat some positive news. The U.S. Dollar weaker today is also adding some support as well. Overall, March Kansas City wheat found support at the $5 level and now running into resistance in the $5.20 futures area. We will need to see a close above $5.30 to breakout to the upside.
We’re here to help. Call any of our hedging strategists at 844-4AG-MRKT.
