October 3, 2025
At this hour:
🌽Corn market is down 0-1c,
🌱soybeans are down 2-3c,
🍞wheat is down 0-1c,
🛢️crude oil is up 31-33c,
💲US Dollar is down 7-8 points.
-The weather looks to give us another big weekend for harvest activity. Soybean harvest is already on the downhill slide while corn harvest is picking up steam.
-President Trump is eyeing a $10 billion bailout package for U.S. farmers. Secretary Scott Bessent will announce more details Tuesday next week.
-Government is still shut down and could be for a while. We will not be getting our daily/weekly reports along with the odds of a USDA Crop Production on October 9th is likely to be canceled.
-Farmer selling picked up a little yesterday as corn and soybean prices are back up at the upper end of their recent ranges.
-We will not get the COT report this afternoon so no telling how many contracts the Funds have bought this week.
🐂🐻Look for a choppy to lower trade session today as we should see some hedge pressure going into the weekend.
Support/Resistance:
December corn – Support on December corn is at $4.10 1/2 which is the October 1st low. Resistance is at $4.24 3/4 which is the 20-day moving average.
July corn – Support comes in at $4.44 1/4 which is the October 1st low. Resistance comes in at $4.56 which is the 20-day moving average.
November soybeans – Support comes in at $9.98 1/4 which is the July 14th low. Resistance is at $10.24 1/2 which is the 50-day moving average.
July soybeans – Support is at $10.43 which is the August 6th low. Resistance is at $10.80 which is the 100-day moving average.
December Kansas City wheat – Initial support is at $4.88 which is the low from October 1st. Resistance comes in at $5.08 1/4 which is the 20-day moving average.
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