December 19, 2025
At this hour:
🌽Corn market is down 0-1c,
🌱soybeans are down 1-2c,
🍞wheat is down 0-1c,
🛢️crude oil is up $0.02-$0.03,
💲US Dollar is up .22-.23
-Weekly export sales are caught up to November 27th. As of late November, corn sales are at a record pace and soybean sales are down 39% from 1 year ago.
-Good rains the past 7 days across much of Brazil, adding optimism in their crop potential.
-March corn futures have rallied the past 2 days but running into resistance at the 200-day moving average.
-March soybeans continue their free fall, down the past 6 days in a row and down 9 of the last 11 trading days.
-Funds continue to selloff their long position they built into mid-November.
🐂🐻 Look for a mixed to lower trade today to wrap up the week of trading.
Support/Resistance:
March corn – Support on March corn is at $4.37 1/4 which is the 100-day moving average. Resistance is at $4.46 1/4 which is the 200-day moving average.
July corn – Support comes in at $4.52 1/2 which is the 100-day moving average. Resistance comes in at $4.61 1/4 which is the 200-day moving average.
January soybeans – Support comes in at $10.46 1/2 which is the high from October 3rd. Resistance is at $10.73 1/2 which is the 10-day moving average.
July soybeans – Support is at $10.84 which is the 200-day moving average. Resistance is at $11.05 which is the 10-day moving average.
March Kansas City wheat – Support is at $5.03 1/4 which is the October 21st low. Resistance comes in at $5.17 1/2 which is the 10-day moving average.
Where do we go from Here:
Corn has had a nice rally the past 2 days and now running into resistance at the 200-day moving average. Export sales reports are catching up but one thing is obvious, the export pace we are on for the year is a record pace and could suggest the USDA might still be understating the export business. Tight Global stocks of corn have the U.S. corn about the only corn in the World for sale and that seems to be helping support the market. Add on top of that, traders are expecting a yield reduction, thus a smaller corn crop in the U.S. in the January 12th report, many feel the U.S. ending stocks will dip below 2 billion bushels.
Soybeans still are struggling to find good support. All week long, soybeans get hit hard in the morning but have had a tendency to bounce back by the close, but they still manage to close lower on the day. January soybeans are trading lower for their 6th day in a row and 9th lower day of the past 11 trading days. 1 year ago, today is when the January 2026 futures put in their contract lows so I would look for some support to surface soon. We will have a shortened week of trading next week with the Christmas Holiday. China was in and bought another cargo of soybeans that was announced yesterday. I would look for January soybeans to find some support around $10.50 January futures.
Wheat futures saw a nice bounce yesterday. Although the Chicago wheat futures struggled, the Kansas City wheat and the spring wheat contracts saw a 9-11c rally. This is a protein play where we have too much low protein in the World and buyers are looking for some higher quality. March Kansas City wheat futures are quickly finding resistance at the 10-day moving average. In the big picture, I still look for Kansas City wheat to trade between $5.00 and $5.40.
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