December 1, 2025
At this hour:
🌽Corn market is down 2-3c,
🌱soybeans are down 3-4c,
🍞wheat is down 0-1c,
🛢️crude oil is up $0.68-$0.69,
💲US Dollar is down .19-.20
-Pretty quiet start for grain prices with not much new news happening over the weekend.
-Last Friday we saw China step in and buy more soybeans along with some corn sold to “unknown” destinations.
-March corn futures are running into resistance here as we trade close to $4.50 and January soybeans seem to be struggling with the $11.35 area.
-Weather in South America looks really good for Brazil but Argentia is still on the dry side and need to be monitored very closely.
-Export inspections will be out here at 10:00 am CST. Look for another big week of corn export inspections.
🐂🐻 Look for a lower trade to start off the week and the last trading month of 2025.
Support/Resistance:
March corn – Support on December corn is at $4.36 which is the 100-day moving average. Resistance is at $4.48 1/2 which is the 200-day moving average.
July corn – Support comes in at $4.52 which is the 100-day moving average. Resistance comes in at $4.63 which is the 200-day moving average.
January soybeans – Support comes in at $11.13 1/4 which is the November 21st low. Resistance is at $11.69 1/4 which is the high from November 18, 2025.
July soybeans – Support is at $11.39 3/4 which is the November 21st low. Resistance is at $11.81 1/2 which is the high from November 18, 2025.
March Kansas City wheat – Support is at $5.26 which is the 50-day moving average. Resistance comes in at $5.37 1/4 which is the 100-day moving average.
Where do we go from Here:
March corn futures put in a higher trade from last Friday but are currently lower this morning. The 200-day moving average sits at $4.48 1/2 and giving us some strong resistance. Weekly export inspections will be out this morning and look for another big number. I would expect a number around 1.5 MMT with the shortened trade last week. Corn spreads are a little weaker as well to start out the week and last week heading home, it felt like corn basis levels across much of the U.S. were a bit weaker as well. Demand remains very good for U.S. corn but when we produced a 16.5+ billion-bushel corn crop, we have plenty of corn across the U.S. to meet the demand. I look for March corn futures to trade between $4.35 to $4.50.
Soybean futures are starting out a touch lower here to start out the week. Weather in South America looks good for Brazil but there are still some dryness concerns for Argentina. January soybeans are in a spot on the chart that they need to push up to the recent highs of $11.69 or else if they would fail, trade below $11.00, they would likely head down and fill the gap in the $10.60 area. Spreads are a little firmer here this morning, but we still have plenty of supplies of soybeans in the U.S. and World. As we head into the end of the year, we could see a little selling pressure as farmers might need some cash for tax purposes, and I would expect the commodity funds to lighten up some of their long positions to close out the year.
March Kansas City wheat futures are lower but right down on support to start out the week. The 100-day moving average has been key resistance here lately and tough to get through. Once we can get above the 100-day moving average, I would look for the commodity funds step in and buy back more of their short positions. For now, it looks like March Kansas City wheat is going to pull back and test support at $5.19 1/2.
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