October 14, 2025
At this hour:
🌽Corn market is down 0-1c,
🌱soybeans are down 4-5c,
🍞wheat is down 3-4c,
🛢️crude oil is down $1.22-$1.23,
💲US Dollar is up 13-14 points.
-President Trump’s meeting with Xi is still planned to take place at the end of the month in South Korea.
-Government is still closed but we should get export inspections this morning. Typically, those come out on Monday but yesterday was Columbus Day.
-Harvest progress is estimated to be around 44% on corn and 58% done on soybeans which seems very low. Most traders feel soybean harvest could be 70% or more complete.
-November soybeans continue to hold above the key $10.00 level while December corn futures are holding support at $4.10 this morning.
🐂🐻Look for a lower trade today.
Support/Resistance:
December corn – Support on December corn is at $4.10 1/2 which is the low from October 1st. Resistance is at $4.22 1/4 which is the 100-day moving average.
July corn – Support comes in at $4.44 1/4 which is the low from October 1st. Resistance comes in at $4.55 1/4 which is the 100-day moving average.
November soybeans – Support comes in at $10.02 1/2 which is the October 10th low. Resistance is at $10.29 which is the 200-day moving average.
July soybeans – Support is at $10.59 which is the October 10th low. Resistance is at $10.83 1/4 which is the 50-day moving average.
December Kansas City wheat – Initial support is at $4.79 1/2 which is the low from October 13th. Resistance comes in at $4.99 which is the 20-day moving average.
Where do we go from Here:
Corn prices are a little lower here this morning after a 2 1/4 cent lower trade yesterday. So far, we are holding support at the $4.10 area which is our low from October 1st. Corn harvest is in high gear, so we are seeing some hedge pressure. Harvest progress looks to move along at a good pace as forecasts are calling for above normal temperatures and a few rain showers across the corn belt. If corn futures push below the $4.10 area, look for them find good support just above $4.00.
November soybeans stabilized yesterday after tensions between the U.S. and China seemed to settle down a bit over the weekend, but we are lower to start out the day. November futures are back testing the $10.00 area of support as harvest is in its final stage. Typically, we see the last bit of harvest come to town and bins get full on the farm and some of those bushels are getting priced out adding a little hedge pressure. President Trump and Xi will be meeting at the end of October in South Korea so we will see what kind of progress can be made towards a trade deal then.
Wheat futures continue to be a follower of corn and soybeans and cannot breakout of their down trend channel. Fresh contracts lows were scored here this morning, and it will take a close above the 20-day moving average, which comes in at $4.99, to break us out of this down trend channel.
Upcoming USDA Reports:
We are not expecting any USDA reports until the Government is back open.
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