GRAIN CALLS
Corn: 2 to 4 cents lower.
Soybeans: 12 to 15 cents lower.
Wheat: SRW 3 to 5 cents lower; HRW 2 to 4 cents lower; HRS steady to 2 cents higher.
GENERAL COMMENTS: Corn, soybeans and wheat each fell under persistent selling pressure overnight, led by weakness in the soybean complex. If prices close where they finished the overnight session, significant technical damage will have been done. Outside markets are mixed this morning both front-month crude oil futures and the U.S. dollar index are modestly lower.
USDA reported daily export sales of 320,068 MT of corn for delivery to Mexico during the 2025-26 marketing year.
The National Weather Service today said widespread clusters of thunderstorms will occur from the Midwest and Tennessee/Ohio Valleys west through the central/southern Plains through at least mid-week. A continual flow of Gulf moisture northward will fuel heavy rainfall-producing storms, with repeated rounds of storms and long-duration rainfall and heavy totals. For Monday, the current greatest risk for heavy rainfall and scattered flash flooding is expected across portions of western/south-central Kansas into northeastern Oklahoma. More isolated instances of flash flooding are possible from the Ohio Valley west through the Mid-South, Ozarks, and into portions of the central/southern Plains. The Middle Missouri Valley and portions of southwest Kansas/northwestern Oklahoma into the Texas Panhandle have slight risks of severe weather, mainly for the threat of large hail and damaging winds. Well above average highs across much of the central/eastern U.S. as well as the west coast will feel more like summer the next couple of days.
AgriTalk Radio’s host, Chip Flory, talked with U.S. Secretary of Agriculture Brooke Rollins Friday afternoon. The USDA secretary discussed the trade deal announced with Taiwan, calling it a game changer for U.S. farmers and ranchers. On China, Rollins noted President Trump’s conversation Friday morning with Chinese President Xi Jinping, saying the two mainly discussed TikTok and related items, but she noted, “…we are making sure we focus on our soybean farmers. There should be good news for farmers very soon.” Regarding progress on the U.S.-China trade front, Rollins said, “We have the world’s top deal maker, top negotiator making sure everything he does at every turn and every corner; he is hyper-focused on getting the deal.” When asked by AgriTalk about economic support for U.S. farmers Rollins said, “If necessary, we would step into the gap again. I have been in lots of conversations on The Hill and across the cabinet… We are putting together (lots of) options so that when the President decides it’s time to step in we are ready. We want to make sure we’ve got the backs of our farmers.”
USDA said in a press release Sunday that Mexico’s National Service of Agro-Alimentary Health, Safety, and Quality (SENASICA) confirmed a new case of New World screwworm (NWS) in Sabinas Hidalgo, located in the state of Nuevo León, less than 70 miles from the U.S.-Mexico border. This is now the northernmost detection of NWS during this outbreak, “and the one most threatening to the American cattle and livestock industry,” said the press release. Sabinas Hidalgo is located near the major highway from Monterrey, Nuevo Leon, to Laredo, Texas, which is one of the most heavily trafficked commercial thoroughfares in the world. “Protecting the United States from NWS is non-negotiable and a top priority of the Trump Administration,” said U.S. Secretary of Agriculture Brooke L. Rollins. “This is a national security priority. We have given Mexico every opportunity and every resource necessary to counter NWS since announcing the NWS Bold Plan in June 2025. Nevertheless, American ranchers and families should know that we will not rely on Mexico to defend our industry, our food supply, or our way of life.”
CORN: December corn are poised to test 20-day moving average support at $4.20. Additional selling finds support at $4.18 1/4, the 40-day moving average. Resistance stands at $4.25 on a bounce.
SOYBEANS: November soybeans fell under heavy selling overnight. The technical posture has quickly shifted to favor the bears. Support comes in at $10.00 on additional selling. Resistance stands at $10.20 on a bounce.
WHEAT: December SRW wheat are working lower for the fourth consecutive session. Bulls are seeking to hold support at $5.15 on persistent selling. Resistance comes in at $5.23 1/2, the 10-day moving average, on a bounce.
LIVESTOCK CALLS
CATTLE: Choppy/lower.
HOGS: Choppy/higher.
CATTLE: Cattle futures are expected to open with a mostly weaker tone as technical resistance is likely to spur selling pressure, though a friendly Cattle on Feed report could limit selling after the open. The report showed cattle and calves on feed for the slaughter market in U.S. feedlots with capacity of 1,000 or more head totaled 11.1 million head on September 1, one point below September 1, 2024. Placements in feedlots during August totaled 1.78 million head, 10 percent below the same time in 2024. Marketings of fed cattle during August totaled 1.57 million head, 14 percent below the same time in 2024. Marketings were the lowest for August since the series began in 1996. Wholesale beef continues to fall under pressure, with Choice falling another $3.76 to $382.05 Friday, while Select sunk $1.39 to $359.92.
HOGS: Lean hog futures are expected to open with a mostly firmer tone. While the recent uptrend has stalled, strong support remains under the market. The CME lean hog index continues to fall under seasonal pressure. The index is down another 36 cents to $105.70 as of Sept. 17. Still, seasonal declines have been light, encouraging traders to shore up discounts to the cash market, a sign that the seasonal decline could be smaller than normal. Pork cutout inched 8 cents higher on Friday as gains in ribs and bellies led the market higher.