Corn is mostly unchanged at midmorning.
- Corn futures are modestly firmer as technical support at the 100-day moving average deters seller interest.
- USDA reported weekly corn inspections of 1.632 MMT (64.3 million bu.) for the week ended Nov. 20, down 433,430 MT from the previous week but near the upper end of the pre-report range of 1.25 MMT to 1.75 MMT.
- Farmers in Brazil’s center-south region had planted 93% of the first corn crop as of last Thursday, according to AgRural. The consultancy warned of planting delays and a tighter window for Brazil’s second corn crop, amid persisting first crop soybean planting delays.
- March futures have tested support at the 100-day moving average, trading at $4.35 1/2 for the second straight session, while resistance stands at the 40-day moving average of $4.40.
Soybeans are mostly unchanged to a penny lower, while soymeal is around 30 cents lower. Soyoil is around 20 points lower.
- Soybeans are mostly weaker but have turned from earlier lows following additional purchases from China.
- USDA reported daily soybean sales of 123,000 MT to China during 2025-26.
- USDA reported weekly soybean inspections of 799,042 MT (29.4 million bu.) for the week ended Nov. 20, down 406,045 MT and near the low-end of the pre-report range of 675,000 MT to 1.4 MMT.
- Brazil’s soybean planting for the 2025-26 season had reached 81% as of last Thursday, according to AgRural. Planting advanced 10 percentage points on the week but trails the year-ago pace of 86% for the same period a year-ago. The consultancy noted the main concerns remain in Mato Grosso and Goiás due to irregular rainfall.
- January soybeans are hovering around the 20-day moving average of $11.25 1/2, with pressure stemming from the 10-day moving average of $11.35, while initial support lies at $11.16 1/4.
Winter wheat futures are 4 to 5 cents lower, while HRS futures are unchanged to 2 cents lower.
- SRW wheat futures are weaker for the fourth straight session as robust global supply prospects and technical resistance weigh on prices.
- USDA reported weekly wheat inspections of 474,530 MT (17.4 million bu.) for the week ended Nov. 20, up 227,997 MT from the previous week and above the pre-report range of 200,000 to 400,000 MT.
- Saudi Arabia’s main state wheat buying agency, the General Food Security Authority (GFSA) said earlier today it has purchased 300,000 MT of wheat in a tender. The purchase involved hard wheat with 12.5% protein content for arrival in April 2026.
- March SRW wheat futures have edged to a one-month low, with initial support now serving at $5.30 3/4, while resistance stands at $5.44 1/2.
Live cattle and feeders are down the limit at midsession.
- Cattle and feeders are locked limit down despite Friday’s Cattle on Feed Report on Friday, which leaned bullish.
- Tyson Foods Inc. on Friday said it is ending operations at a beef plant in Lexington, Nebraska and cutting a shift at an Amarillo, Texas facility as the meat producer loses millions of dollars amid the smallest U.S. cattle herd in decades. Click here to read more.
- USDA reported cattle and calves on feed for slaughter market in the U.S. for feedlots with capacity of 1,000 head or more totaled 11.7 million head on Nov. 1. The inventory was 2% below year ago. Net placements were the lowest for October since the series began in 1996.
- Wholesale beef prices firmed on Friday, with Choice up 20 cents to $371.48, while Select rose $2.80 to $356.98. Movement totaled 145 loads.
- December live cattle opened down the limit to a fresh near-term low. The next area of support lies at $204.75, while resistance stands at today’s high of $207.625, which is backed by resistance at $209.60.
Hog futures are mixed at midmorning.
- Nearby lean hogs continue to face technical challenges, and fundamental pressure from seasonal weakness in the cash index.
- The CME lean hog index fell another 90 cents to $84.81 as of Nov. 20.
- The pork cutout value rose $3.22 on Friday, led by a rebound in primal bellies. Movement totaled 374.7 loads.
- December lean hogs have edged to fresh near-term lows, though support remains at $77.31, while resistance stands at the 10- and 20-day moving average, currently trading at $79.49 and $79.98.