Corn • Soybeans • Wheat

Justin N

Corn

December corn futures have spent much of October under pressure as U.S. harvest advances and large supplies continue to weigh on the market. Export demand remains respectable, but not strong enough to offset the seasonal harvest pressure currently impacting prices. Recent sales to Mexico and other key buyers have provided support, though traders remain focused on overall supply availability and South American planting progress

Market Tone: Seasonally bearish from harvest pressure, but export demand and producer selling resistance may help establish a floor near current levels.

Soybeans

Soybeans remain the strongest grain market of the three major row crops. Strong export demand, including recent business with China, has helped support prices despite ongoing U.S. harvest activity. While futures have backed off September highs, nearby demand and a tighter global soybean balance sheet continue to provide underlying support.

Market Tone: Constructive. Export demand remains a major driver, though South American weather and planting progress will increasingly influence price direction into winter.

Wheat

SRW wheat has retreated sharply from summer highs as global supply concerns eased and Black Sea exports remained available. Traders have also reacted to improved moisture forecasts across portions of the U.S. Plains and larger production estimates coming from Argentina. Export demand has been less impressive recently, limiting upside momentum.

Market Tone: Neutral to slightly bearish. Global competition remains heavy, but wheat continues to maintain risk premium tied to weather and geopolitical uncertainty.

What We’re Watching Next

  • South American corn and soybean planting progress

  • U.S. export sales pace through the winter months

  • USDA supply and demand revisions

  • Black Sea grain movement and global wheat competitiveness

  • Managed fund positioning after recent grain market weakness

Contact our grain team to discuss cash bids, basis opportunities, contracting alternatives, and post-harvest marketing strategies.

Futures and basis are subject to change. This update is for informational purposes only and is not a recommendation to buy or sell futures or cash grain.