November 10, 2025
At this hour:
🌽Corn market is up 5-6c,
🌱soybeans are up 10c,
🍞wheat is up 6-7
🛢️crude oil is up 30c,
💲US Dollar is flat. Gold and Silver up big, $86 and 1.80 respectively
🎓Trivia for Today: When was the last time the USDA cancelled a WASDE? (trick question alert)
Reply to jburks@agmarket.net with your answer. Thanks for the replies Friday: 2003 was the answer.
-On Friday, the November soybean contract kept the streak alive of days in a row for double digit closes. up .10
-Biggest news for Monday is the anticipation of the Govt reopening. The Senate has voted on a package to end the Shutdown. The amended package would still have to be passed by the House of Representatives and sent to President Donald Trump for his signature, a process that could take several days
-Late U.S. harvest weather and South American planting conditions generally look favorable.
-China announced it will restore soybean import licenses for three U.S. firms and lift its ban on U.S. log imports.
-PRF Sales deadline is December 1st. AgMarket Insurance Services is now serving our customer with MPCI, LRP, DRP, and PRF.
🐂🐻Positive close in the bovine world on Friday. A wild ride in feeders saw a $10+ trading range and closed $2-$4 higher as Live Cattle closed $3 higher and traded in a $5+ range. After the markets closed on Friday, the President went to social media and blasted the Packing industry by demanding the DOJ to launch an investigation into their pricing behavior. TRADE WITH CAUTION.
Support/Resistance:
December corn – Support on December corn is at $4.25 3/4 which is the 20-day moving average. Closed below the 10 dma. Resistance is at $4.36 which is the 200-day moving average.
July corn – Support comes in at $4.525 which is the 50-day moving average. Closed below the 10 dma. Resistance comes in at $4.65 which is the 200-day moving average.
January soybeans – Support comes in at $10.63 which is the bottom side of the gap left on October 24th. Short-term support held at $11.07 the 10 dma. Resistance is at $11.37 which is the high from November 4, 2025.
July soybeans – Support is at $10.92 1/4 which is the 50-day moving average. The 10 dma at $11.375 held so far. Resistance is at $11.59 which is the high from November 4, 2025.
December Kansas City wheat – Support is at $5.06 1/2 which is the 50-day moving average. Resistance comes in at $5.58 3/4 which is the high from July 22nd.
Click Here to check out our Technical Video from Wednesday with Brian Splitt
Where do we go from Here:
Corn is starting the day higher. This week will be full of yield estimates coming in before the much-anticipated WASDE report on Friday. The October report was canceled and there is often some acreage data in that report. There has been little discussion regarding acreage changes in this report since the FSA acreage data filtered into the September report. I would anticipate a rangebound trade going through the week looking for real information to determine direction through the end of the year.
Soybean futures are off to a great start, double digits higher already. It’s hard to maintain a rally that’s built on information that only seems to be coming from one side of an agreement. There will need to be more factual information come from the Chinese side of the deal for the premium that was built into the market to remain. The latest news of reinstating the license of three major exporting companies from the US is a solid step in that direction. At this point it seems that the only way China will show up in a big way is if soybeans get a lot cheaper to be competitive with Brazil.
Wheat futures are showing strength this morning. Weather across the wheat-belt seems to be a nonstory as the cold snap has brought some widespread moisture. The focus of the global wheat business has migrated to the Black Sea region after the uptick in price at the beginning of last week. Maybe the selloff at the end of the week will bring some business back to the US.
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