October 27, 2025
At this hour:
🌽Corn market is up 5-6c,
🌱soybeans are up 17-18c,
🍞wheat is up 8-9c,
🛢️crude oil is down 43-44c,
💲US Dollar is down 14-15 points.
-A trade deal framework between the U.S. and China gas been agreed to over the weekend. China has said they will but a substantial number of soybeans from the U.S.
-November soybeans gapped higher last night and are testing resistance around $10.60-$10.62.
-December corn futures continue to find resistance in the $4.30 area.
-Corn harvest should be down to the last 25% across the U.S.
-The 6-10-day and 8-14-day forecasts are still calling for above normal temperatures and below normal precipitation.
🐂🐻Look for a higher trade to start off the new week.
Support/Resistance:
December corn – Support on December corn is at $4.19 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 $4.51 1/2 which is the 50-day moving average. Resistance comes in at $4.64 1/4 which is the high from September 17th.
November soybeans – Support comes in at $10.26 3/4 which is the 100-day moving average. Resistance is at $10.62 3/4 which is the high from August 22nd.
July soybeans – Support is at $10.86 1/2 which is the 50-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 $4.93 which is the 20-day moving average. Resistance comes in at $5.23 3/4 which is the high from September 16th.
Where do we go from Here:
Corn futures are higher to start out the week on the heels of a strong soybean board. The framework of a trade deal has been agreed to between the U.S. and China setting up a finalization of the trade deal when President Trump and President Xi meet later this week. December corn is still struggling with the $4.30-$4.32 area as harvest pushes forward. The sheer size of the U.S. corn crop is starting to be felt as spreads start to widen back out as the farmer brings the last bit of harvest to town. Demand remains very strong for U.S. corn and the Funds seem to be buying back some of their big, short position. Look for December corn to continue to grind between $4.10 and $4.30.
The framework of a trade deal has been agreed upon. All we need now is President Trump and President Xi to finalize the trade deal when they meet later this week. China is said to agree to buy a substantial number of soybeans, but no exact number has been released yet. Just the fact of having China back buying U.S. soybeans is supporting soybean prices. At the end of the day, we still have plenty of soybeans in the U.S. and World, plus Brazil is planting an additional 3.6% more soybean acres this year as well. November soybeans are up testing resistance at the August 22nd high of $10.62 3/4. Overall, November soybeans are still trending sideways in their $10.00-$11.00 trading range they have been in for over a year now.
December Kansas City wheat futures are finally breaking out to the upside. Last Friday, December Kansas City futures closed right at the upper end of the downtrend channel they have been in and now this morning they are breaking out to the upside and are trading above the 50-day moving average. Kansas City wheat futures are trading above the 50-day moving average for the first time since June24th. Next area of resistance will be the 100-day moving average which is at $5.29 1/2. The Funds had a huge, short position in wheat so as we keep pushing higher, we should see them continue to cover that position.
Upcoming USDA Reports:
We are not expecting any USDA reports until the Government is back open.
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