September 16, 2025
At this hour:
🌽Corn market is up 1-2c,
🌱soybeans are up 3-4c,
🍞wheat is up 1-2c,
🛢️crude oil is down 13-14c,
💲US Dollar is down 26-27 points.
-Flash sale of 148,000 metric tons of corn to unknown destinations was announced yesterday.
-President Trump with talk with Premier Xi on the phone this week with another call scheduled in a couple weeks.
-Weekly export inspections were within trade expectations yesterday.
-The weather looks warm and dry in the eastern 1/2 of the U.S. with good chances of rain in the western part of the U.S.
-December corn and November soybeans still holding above support at the 20-day moving average.
🐂🐻Look for a choppy to higher trade here today.
Support/Resistance:
December corn – Support on December corn is at $4.16 1/4 which is the 20-day moving average. Resistance is at $4.32 3/4 which is a gap we left from July 7th.
July corn – Support comes in at $4.50 3/4 which is the 20-day moving average. Resistance comes in at $4.67 which is the 200-day moving average.
November soybeans – Support comes in at $10.27 1/4 which is the 200-day moving average. Resistance is at $10.62 3/4 which is the high from August 22nd.
July soybeans – Support is at $10.62 3/4 which is the 200-day moving average. Resistance is at $11.13 1/2 which is the high from June 20th.
December Kansas City wheat – Initial support is at $5.01 3/4 which is the low from September 4th. Resistance comes in at $5.15 which is the 20-day moving average.
Where do we go from Here:
It is “Turn Around Tuesday” here today. Corn prices are a couple cents higher as the traders sort out all the news from last week. Harvest pressure is picking up steam across the eastern part of the U.S. and whether we are talking about 186 bushels per acre or 180 bushels per acre, we have a big crop and a lot of it has to come to town. December corn should find good support around last week’s lows in the $4.16 area as Traders will “buy the dip.” There is a gap on the December corn chart up at $4.32 3/4 and that could be a target area.
U.S. Treasury Secretary Scott Bessent said they have a framework of a deal involving China and a social media platform in place. Many are referring to the TikTok platform. This kind of a deal put some optimism into the soybean complex as President Trump and Premier Xi will talk on the phone later this week. Among other issues to talk about, traders expect the 2 to engage in talks over tariffs. I doubt any trade deal will get done but they are both back at the table negotiating and that is progress. Without a trade deal with China, the U.S. soybean bean exports are probably too high at this time. Brazil is underway with planting soybeans. Dry conditions down in Brazil are causing some planting delays, but it is early in their season.
The wheat market is doing its best to stabilize and push higher. Yesterday December Kansas City wheat pushed up into resistance at the 20-day moving average and stopped. Wheat futures are back testing resistance again here this morning. The U.S. Dollar is lower and on the verge of possibly breaking out to the downside and that would be positive to all U.S. grains, especially wheat. Look for wheat to grind sideways.
Upcoming USDA Reports:
September 19, 2025 – Cattle on Feed
September 22, 2025 – Weekly Crop Progress
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