June 26, 2025
At this hour:
🌽Corn market is up 2-3c,
🌱soybeans are up 3-4c,
🍞wheat is up 2-3c,
🛢️crude oil is up 22-23c,
💲US Dollar is down 50-51 points.
-Analyst in South America are projecting a record Safrina corn crop in Brazil by as much a 16+ bushels per acre.
-Soybeans saw a technical selloff yesterday as we broke down below the major moving averages.
-Rains are moving through Nebraska, South Dakota, southern Minnesota and Iowa here this morning with cooler temps.
-Weekly export sales will be released this morning. Look for another strong week for corn sales.
-Grain prices are rebounded a bit here this morning as traders prepare for the Planted Acreage and Grain Stocks report to be released Monday morning at 11:00 am CT.
-Corn, soybeans and wheat are all trading below the major moving averages.
🐂🐻Look for a little higher trade today across all 3 grain complexes.
Support/Resistance:
July corn – Support on July corn is at $4.08 which is the low from June 25th. Resistance is at $4.33 1/4 which is the 20-day moving average.
December corn – Support comes in at $4.10 which is the low from October 28th on the continuation chart. Resistance comes in at $4.38 1/4 which is 20-day moving average.
July soybeans – Support comes in at $10.23 1/2 which is the low from June 25th. Resistance is at $10.47 1/2 which is the 200-day moving average.
November soybeans – Support is at $10.17 which is a support/resistance line. Resistance is at $10.33 1/2 which is the 200-day moving average.
July Kansas City wheat – Initial support is at $5.17 3/4 which is the low from June 17th. Resistance comes in at $5.39 which is the 20-day moving average.
Where do we go from Here:
Corn made fresh new lows again yesterday. Funds continue to hit the sell button as the weather in the U.S. is not threatening. Add on top of that a potential record corn crop out of Brazil and the market is feeling very comfortable with our corn supply. A year ago, we saw July corn futures trade below the $4 level going into first notice day and we might see a repeat of that again this year. Traders are positioning themselves for the Planted Acreage and Grain Stocks report to be released on Monday. This report has a tendency to give us a few surprises. Look for a little higher trade today after 4 straight lower days of corn prices.
The soybean complex found some aggressive selling yesterday. Up until yesterday, soybeans have held in there pretty good. Once July soybeans broke down below the 100-day and 200-day moving averages, the selling poured in. Funds are still holding a long position in soybeans. We have yet to see China buy and 2025/26 soybeans from the U.S. Brazil announced yesterday that they will increase their domestic biofuels mandate August 1st, with biodiesel increasing 1% to 15% and ethanol by 3% to 30%.
Wheat is following corn and soybeans here this morning and are a little higher. Harvest continues to push onward with yields and quality all pretty good. The U.S. Dollar down at 97.2 today, coupled with lower wheat futures here lately, should make U.S. wheat more competitive on the World front.
Upcoming USDA Reports:
June 30, 2025 – USDA Planted Acreage & Grain Stocks Report
June 30, 2025 – Weekly Crop Progress Report
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