December 3, 2025
At this hour:
🌽Corn market is down 1-2c,
🌱soybeans are up 2-3c,
🍞wheat is down 0-1c,
🛢️crude oil is down $0.81-$0.82,
💲US Dollar is down .35-.36
-Vladimir Putin has warned Russia may strike ships of countries supporting Ukraine if attacks on Moscow’s tanker fleet continue.
-Ag Secretary Brooke Rollins said President Trump will announce a “Bridge Payment” for farmers next week that is designed to provide short term help while long term trade deals are worked out.
-March corn futures saw some buying yesterday as they traded above the 200-day moving average but this morning they are testing that support/resistance.
-January soybeans are quiet today after closing lower Monday and Tuesday. January soybeans could be working on a head and shoulders top.
-Wheat futures are quiet this morning after an impressive rally off of support yesterday.
🐂🐻 Look for a mixed/choppy trade here today.
Support/Resistance:
March corn – Support on December corn is at $4.36 1/4 which is the 100-day moving average. Resistance is at $4.48 which is the 200-day moving average.
July corn – Support comes in at $4.52 1/4 which is the 100-day moving average. Resistance comes in at $4.62 3/4 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 $5.19 1/2 which is the November 21st low. Resistance comes in at $5.36 1/2 which is the 100-day moving average.
Where do we go from Here:
Corn futures got some support yesterday as tensions rise in the Black Sea region. Vladimir Putin warned that Russia may strike ships of countries supporting Ukraine if attacks on Moscow’s tanker fleet continue. This news pushed March corn futures above the 200-day moving average and that is where we found some buying. This morning, we are back testing the support/resistance line of the 200-day moving average. Since the middle of June, March corn futures have only closed above the 200-day moving average once until yesterday. Look for March corn futures to chop around the 200-day moving average but if they fail, I will look for a test of the $4.36 1/2 support which is the 100-day moving average.
Soybeans started out the day a little higher but failed again yesterday. Starting out the week lower 2 days in a row is not what the Bulls are looking for. China remains patient in buying U.S. soybeans and Brazil continues to be considerably cheaper than the U.S. on soybeans right now. January soybeans are possibly working on a head and shoulders top right now. The neckline of the formation is not clearly defined. The neckline could come in at $11.13 or $11.00. I feel if either line of support is penetrated, we could slip down under $11.00 and look to fill the gap left from late October. Fresh bullish news is hard to come by so look for soybeans to consolidate until we get some fresh news to trade on.
Wheat futures tested support yesterday and it held. No peace deal between Russia and Ukraine is adding to that support and Putin’s comments yesterday about possibly striking ships of countries that support Ukraine helped give the wheat a boost. March Kansas City wheat went back up and tested the 100-day moving average at $5.36 1/2 but failed. Look for March Kansas City wheat to consolidate between $5.20 and $5.36.
