November 12, 2025
At this hour:
🌽Corn market is mixed,
🌱soybeans are up 2-3c,
🍞wheat is down 4-5c,
🛢️crude oil is down 70c,
💲US Dollar is up .10. Gold and Silver up,
🎓Trivia for Today: What do you think the WASDE will show for yield for corn and soybeans? Will the reaction be positive or negative on the closing prices?
Reply to jburks@agmarket.net with your answer. (Closest will win some AgMarket.net Swag)
Thanks for the replies Tuesday: Most popular answer Eric Norland from the CME: Tootsies was the most popular joint to visit.
– The soybeans finally had a close less than double digit up or down. Front months of the soybeans were lower as the back months saw marginal gains.
– Thailand agrees to open itself up to U.S. corn imports by cutting their import tariff to zero.
– India and the US are getting closer to reaching a trade deal.
– China State owned COFCO signed a deal with Brazil to buy 20mmt of soybeans and ag products. This does not help our export expectations.
– US Senate passed a funding bill to reopen the govt. and extend major farm bill programs.
– Heating oil (deisel) has continued it’s rally, reaching levels we havent seen since Mid-July.
– PRF Sales deadline is December 1st. AgMarket Insurance Services is now serving our customer with MPCI, LRP, DRP, and PRF.
🐂🐻 Relative to what we’ve seen over the last several sessions in the Feeder Cattle and Live Cattle contracts yesterday’s action was simply boring. Limits were expanded in yesterday’s session after being limit up on Monday. I guess everybody needs a break ever now and then. TRADE WITH CAUTION.
Click here to take a look at our Fundamental video from Monday
Support/Resistance:
December corn – Support on December corn is at $4.25 3/4 which is the 20-day moving average. Closed above the 10 dma. Resistance is at $4.36 which is the 200-day moving average.
July corn – Support comes in at $4.54 3/4 which is the 50-day moving average. Closed above 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 $11.15 the 10 dma. Resistance is at $11.37 which is the high from November 4, 2025.
July soybeans – Support is at $10.94 3/4 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.
Look for a new video from Brian tonight. Click Here to check out our Technical Video from Wednesday with Brian Splitt
Where do we go from Here:
Not much follow through from yesterday’s session, corn is down but only had a 1 1/4 cent range overnight. The corn has done what we thought coming into this week, chopped around. We have made it back up to the top side of the range we’ve built over the last couple of weeks. Simply bouncing in between moving averages and awaiting the potential change to the balance sheet on Friday. We will be putting out the Pre-Report analysis later today.
Soybeans are trying to rebound. Part of the recent runup in soybeans was built mostly on the back of soymeal becoming priced at a premium. This was due in part to the EU implementing the EUDR deforestation rules January 1st. Rumor is they have pushed back the start of this ruling to mid 2026. Still no rumblings of China sniffing around for US Soybeans, it may take a bearish report on Friday to get the prices where China gets interested.
Wheat futures are failing this morning. There’s not a lot of expectation for wheat numbers to change too much on Friday’s report. Global Demand has seemed to be picking up this week, but lack of fresh fundamental news has made wheat a follower of the outside markets. We anticipate more of the same this week.
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