Corn is unchanged to a penny higher.
- Corn futures are chopping around unchanged in sideways trade as technical resistance continues to curb buyer interest.
- USDA reported weekly sales of 101,000 MT of corn to unknown destinations during 2026-27.
- Congressional Democrats, fresh off this week’s midterm sweep, are taking aim at President Donald Trump’s trade war with Canada as a first target in a campaign to roll back the administration’s trade agenda,the Wall Street Journal reported. Sen. Ron Wyden of Oregon said he was “already talking” with colleagues about legislation that would push against Trump’s second-term levies on Canadian products.
- Nutrien, the world’s largest potash producer, posted quarterly earnings Thursday that came in below analyst expectations as it deals with global fertilizer production challenges, Reuters reported. A slump in fertilizer sales and higher sulfur and other production costs were a drag on profitability, the report said.
- December corn futures are facing support at this week’s low of $4.38 1/2, while resistance stems from the 10-day moving average, trading at $4.46 3/4.
Soybeans are unchanged to a penny higher, while meal is 10 cents lower. Soyoil is 30 points lower.
- Soybeans are weaker for the tenth straight session amid continued technical selling.
- USDA reported net sales of 136,000 MT of soybeans to China during 2026-27.
- Increasing rainfall expected in Brazil’s center west crop areas next week will induce better crop emergence and establishment conditions. Some rain may also reach into the northeast part of Brazil, although the resulting moisture will be more erratic, according to World Weather Inc.
- Malaysian palm oil futures extended a decline to hover below MYR 4,350 per tone, their lowest level since March and set for their biggest weekly drop in nearly two years, according to Trading Economics.
- January soybeans are facing support at $11.80, while resistance stands at $11.95, which is backed by the 200-day moving average.
Wheat futures are 3 to 6 cents lower.
- SRW wheat futures are facing pressure from a firmer U.S. dollar, but are trading well off earlier lows.
- Russia’s Southern Region winter grains are not going to be as well established as usual making them more vulnerable to winterkill if winter weather becomes extreme. Some moisture next week will be welcome and should be of use to crops in the spring, notes World Weather.
- Russia has set an export quota for mineral fertilizers for the period between December 2026 and May 2027 at 18.8 MMT, down from 20 MMT set for June to November 2026, according to a government decree.
- December SRW wheat futures are being limited by resistance at the 10-day moving average, trading at $6.03 1/2, while support lies at $5.94 1/2 and $5.84 1/4.
Live cattle and feeders are lower at midsession.
- Live cattle futures have marked fresh for-the-move lows as cash fundamentals wane.
- Higher slaughter volumes are supporting plant utilization; combined with northern feeders marketing heavier cattle ahead of winter weather. This should help work through the overhang of overweight animals.
- Choice boxed beef fell 94 cents to $361.56 while Select fell $4.33 to $352.32. Movement totaled 97 loads.
- December live cattle are now facing support at $209.55, while resistance stands at $214.90.
Hog futures are lower at midmorning.
- Lean hog futures have marked fresh contract lows amid lingering cash and wholesale weakness.
- The CME lean hog index is down $1.07 to $62.86 as of Nov. 4.
- The pork cutout value fell 30 cents to $68.99 on Thursday. Movement totaled 304.0 loads.
- December lean hogs have carved a fresh contract low of $53.25, which is backed by support at $52.78. Resistance stands at $55.38.