Corn is mostly unchanged to a penny higher.
- Corn futures are trading within Friday’s lower range, though solid technical support and corrective strength in crude oil are limiting seller interest.
- USDA reported export inspections of 1.44 MMT (56.8 million bu.) for the week ended Sept. 4, up 33,190 MT from the previous week and within the pre-report range of 800,000 MT to 1.7 MMT.
- Brazilian farmers have started to plant their first corn crop of the 2025-26 season, notes AgRural. Progress was estimated to be 12% complete in center-south Brazil, which is slightly below 15% planted for the same period a year ago.
- The 10-day moving average of $4.15 1/4, which is backed by the 40- and 20-day moving averages, continues to serve up support, while last week’s high of $4.24 3/4, which is backed by the 100-day moving average, serves as resistance.
Soybeans are mostly unchanged, while soymeal is around $1.00 higher. Soyoil is fractionally lower.
- Soybeans are favoring the downside in narrow trade, though technical support and modest gains in meal and soyoil are curbing momentum.
- USDA reported export inspections of 452,151 MT (16.6 million bu.), down 39,277 MT from the previous week but within the pre-report range of 300,000 to 500,000 MT.
- China, the world’s biggest soybean importer, purchased 12.28 MMT in August, according to data from the General Administration of Customs. The figure was the highest ever recorded for the month, as crushers overbought amid a lack of progress in U.S.-China trade talks, according to Rosa Wang, an analyst at Shanghai-based agro-consultancy JCI.
- Farmers in Brazil have kicked off 2025-26 soybean plantings, according to AgRural. Brazilian soybean production for 2025-26 is expected to total 180.92 MMT, a 5.3% increase over the previous season.
- November soybean futures continue to face support at the 200- and 40-day moving averages, currently trading at $10.26 1/2 and $10.23 1/2, while the 20- and 10-day moving averages, each trading around $10.40 serve as resistance.
Winter wheat futures are a penny to 6 cents higher, while HRS futures are around 4 cents higher.
- SRW wheat futures are firmer amid short-covering due to a weaker U.S. dollar, though technical resistance will likely make for consolidative trade.
- USDA reported export inspections of 424,993 MT (15.6 million bu.), down 378,767 MT from the previous week, but were still within the pre-report range of 300,000 to 800,000 MT.
- APK-Inform increased its f forecast for Ukraine’s 2025 grain harvest and exports amid higher-than-expected production. The consultancy reported Ukraine can harvest 58.8 MMT of grain, up from 53.2 MMT a month earlier. Exports are projected at 41.9 MMT, up from 40 MMT.
- December SRW futures are consolidating around last week’s low of $5.14 1/2, which serves as support, while resistance stems from the 10- and 20-day moving averages, each trading around $5.26.
Live cattle are modestly firmer while feeders are notably higher at midsession.
- Nearby live cattle are modestly firmer in corrective trade following last week’s decline.
- Last week’s cash cattle trade was steady with the previous week.
- Wholesale beef fell on Friday, with Choice down $3.45 to $410.76, while Select slipped $2.58 to $385.19. Movement totaled 120 loads.
- October live cattle remain technically strapped by the 10-day moving average of $237.79, while the 20-day moving average, currently trading tat $234.49 continues to serve up solid support.
Hog futures are mixed at midmorning.
- Nearby lean hogs are weaker following last week’s gains and returned weakness in the cash index.
- The CME lean hog index is down a nickel to $105.92 as of Sept. 4.
- Pork cutout rose $2.55 to $115.87 Friday, led by gains in primal picnics and loins. Movement totaled 321.8 loads.
- October lean hogs are trading inside Friday’s range, limited by resistance at last week’s high of $96.975, while initial support remains at $94.96.