December 8, 2025
At this hour:
🌽Corn market is down 0-1c,
🌱soybeans are down 6-7c,
🍞wheat is down 1-2c,
🛢️crude oil is down $0.50-$0.51,
💲US Dollar is up .01-.02
-Quiet weekend for headlines across the World. Grains look to start out the week a little lower.
-USDA had a flash sale of 462,000 MT of soybeans to China last Friday but those sales were rumored earlier in the week.
-Soybean market technically is breaking down and now back below $11.00 on the January contract.
-Weather in South America is improving with Argentina getting some recent precipitation.
-U.S. weather still looks to be below normal temps causing some transportation issues.
🐂🐻 Look for a mixed/lower trade to start out the week.
Support/Resistance:
March corn – Support on March corn is at $4.36 1/2 which is the 100-day moving average. Resistance is at $4.47 1/2 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 1/4 which is the 200-day moving average.
January soybeans – Support comes in at $10.88 1/2 which is the 50-day moving average. Resistance is at $11.21 which is the 10-day moving average.
July soybeans – Support is at $11.20 which is the 50-day moving average. Resistance is at $11.48 which is the 10-day moving average.
March Kansas City wheat – Support is at $5.26 1/4 which is the 50-day moving average. Resistance comes in at $5.35 1/2 which is the 100-day moving average.
Where do we go from Here:
Corn market continues to hold in here pretty well. There is definitely resistance as March corn futures trade above $4.50 but corn is finding a lot of support on shallow breaks. While the soybean market looks to be breaking down technically, corn is holding pretty strong. Funds are estimated to still be holding a short position of around 80,000-90,000 contracts short, and I doubt the Funds will look to add to that short position given the strong demand we have for U.S. corn. U.S. corn is the cheapest corn in the World so that suggests to me the corn market should stabilize in here and consolidate.
Soybean prices broke down last Friday and are continuing to break down more to start out the week. January soybean futures are back trading below the $11.00 level for the first time since October 30th. China did buy about 462,000 MT of soybeans last week, but they have only bought 25-30% of the 12 MMT they agreed to purchase. Funds are estimated to be about 160,000 contracts long and heading into the last couple weeks of 2025, one has to wonder if the Funds will reduce that long position and get themselves closer to unchanged to close of 2025? There is a gap on the soybean charts down in the $10.63-10.70 level that might be a focus area for the market to fill that gap.
Wheat futures have slipped back into being a “follower” role. March Kansas City wheat futures continue to find resistance at the 100-day moving average while the Funds have reduced some of their big, short position, there is no urgency for them to cover much more than what they already have. A close above the 100-day moving average should motivate the Funds to cover more of their short positions but until that happens, look for wheat to consolidate.
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