Corn is mostly 4 to 5 cents lower.
- Corn futures are being led lower by extended pressure in the soy complex.
- USDA reported daily sales of 320,068 MT to Mexico during 2025-26.
- USDA reported weekly export inspections of 1.33 MT (52.3 million bu.) during the week ended Sept. 18, down 183,941 MT from the previous week. Net inspections were near the low-end of pre-report expectations ranging from 1.1 to 1.65 MMT.
- Argentina will remove export taxes on all grains for over a month to boost the supply of dollars during that period, according to government spokesman Manuel Adorni.
- December corn futures have edged below the 10- and 20-day moving averages, but have found support at $4.17 3/4, while resistance stems from the 100-day moving average of $4.25 3/4.
Soybeans are mostly 13 to 14 cents lower, while soymeal is around $4.00 lower. Soyoil is around 97 points lower.
- Soybeans have edged to a five-week low amid followthrough selling amid fading export prospects.
- USDA reported weekly export inspections totaled 484,116 MT (17.8 million bu.) for the week ended Sept. 18, down 337,693 MT from the previous week and near the low-end of pre-report estimates ranging from 400,000 to 845,000 MT.
- Brazil’s soybean processors are expected to invest 5.9 billion reais ($1.11 billion) over the next 12 months as companies respond to growing demand for biodiesel, according to oilseed lobby Abiove.
- November soybeans gapped lower overnight and are facing support at $10.08 1/2. Resistance is layered at the 40-, 200-, 100-, 10- and 20-day moving averages, layered from $10.27 1/4 to $10.37 3/4.
SRW wheat futures are mostly 8 to 9 cents lower, while HRW and HRS futures are around 2 to 4 cents lower.
- SRW wheat futures have carved a new contract low despite solid export inspections.
- USDA reported weekly export inspections of 854,454 MT (31.4 million bu.) for the week ended Sept. 18, up 98,058 MT from the previous week and well above the pre-report range of 300,000 to 500,000 MT.
- U.S. HRW wheat areas will see a good mix of rain and sunshine over the next two weeks favoring fieldwork and crop development, notes World Weather Inc.
- December SRW futures have carved a new contract low, with the psychological $5.00 now serving as initial support. Resistance stands at the 10-, 20- and 40-day moving averages, layered from $5.24 1/2 to $5.29.
Live cattle and feeders are solidly higher at midsession.
- Nearby live cattle are solidly higher as supply fundamentals continue to drive bulls.
- USDA’s Cattle on Feed Report continued to show tight cattle supplies, with Placements in feedlots in August down 10% below the same time year-ago, while marketings were the lowest for August since the series began in 1996.
- USDA confirmed a new case of New World screwworm (NWS) in Sabinas Hidalgo in a press release on Sunday, which is 70 miles from the U.S.-Mexico border and is now the northernmost detection of NWS during the outbreak.
- Wholesale beef continued to slide on Friday, with Choice down $3.76 to $382.05, while Select fell $1.39 to $359.92. Movement totaled 131 loads.
- October live cattle gapped higher at the open, with resistance at $326.63, which is backed by the Aug. 27 high of $242.075. Initial support lies at $233.24, which is backed by the 40- and 10-day moving averages.
Hog futures are higher at midmorning.
- Nearby lean hogs are higher, with support from cattle, as cash and wholesale fundamentals continue to weaken.
- The CME lean hog index is down another 36 cents to $105.34.
- The pork cutout value rose 8 cents on Friday to $112.03, with losses gains in all cuts offsetting a decline in primal loins.
- October lean hogs are facing resistance from last week’s high of $98.90, while support lies at the 10-day moving average of $96.32.