Corn is mostly 4 to 7 cents lower.
- Corn futures have marked a for-the-move and multi-month low amid fund liquidation.
- USDA reported weekly export inspections of 672,475 MT during the week ended Oct. 15, down 641,258 MT from the previous week. Net inspections were well below analysts’ pre-report range of expectations from 1.1 to 1.35 MMT.
- Russian President Vladimir Putin proposed a summit with President Donald Trump and Chinese leader Xi Jinping in an attempt to negotiate an end to the war with Ukraine that would favor Moscow,the Wall Street Journal reported. The summit would exclude Ukrainian President Volodymyr Zelensky.
- World Weather Inc. said late Sunday that U.S. crop weather is expected to be dry in the Delta, lower eastern Midwest and southeastern states for the next 10 days.
- December corn futures have taken out the Oct. 9 low, with the next area of support a $4.63, then at $4.57 1/4. Resistance stands at $4.76, which is backed by the 200- and 100-day moving averages.
Soybeans are 8 to 9 cents higher, while meal is around $2.90 lower. Soyoil is around 55 points lower.
- Soybeans are weaker for the sixth straight session despite strong weekly export inspections last week.
- USDA reported daily soybean sales of 114,000 MT to China and 261,000 MT to unknown destinations during 2026-27.
- USDA reported weekly export inspections totaled 2.002 MMT during the week ended Oct. 15, up 892,365 MT from the previous week. Net inspections were well above analysts’ pre-report range of expectations from 1.2 to 1.6 MMT.
- Brazilian farmers had planted 26% of the 2026-27 soybean crop as of last Thursday, according to AgRural, up from 15% a week earlier and 24% during the same week last year.
- November soybeans are testing support at $12.54 ½, though additional support lies at $12.47 1/2 and $12.41 3/4. Resistance stands at $12.66 ¾, which is backed by the 10-, 20- and 40-day moving averages.
Wheat futures are 3 to 5 cents higher.
- SRW wheat futures are under pressure to start the week, though support at the 200-day moving average is curbing sellers so far.
- USDA reported weekly export inspections totaled 240,308 MT during the week ended Oct. 15, down 66,717 MT from the previous week. Net inspections were short of analysts’ pre-report range of estimates from 300,000 to 400,000 MT.
- Hard red winter wheat areas will get some rain at the end of the week and into the weekend, but bigger rain is expected next week that will also affect the western and northern Midwest, notes World Weather Inc.
- December SRW wheat futures are facing initial support at $6.54 ½, which is backed by the 200-day moving average, trading at $6.50. Resistance stands at $6.68 1/2 , which is backed by the 10- and 100-day moving averages.
Live cattle and feeders are mostly firmer at midsession.
- Live cattle futures are narrowly mixed to start the week as traders wait for cash trade confirmation.
- Cash cattle trade held a firmer tone into late week last week, though the official cash quote will be released later this morning.
- Choice boxed beef fell $1.67 on Friday to 4372.31 while Select rose 43 cents to $353.05. Movement totaled 135 loads.
- December live cattle are trading within Friday’s upper range, limited by the previous session high of $228.75, while support lies at $227.37, which is backed by the 10- and 100-day moving averages.
Hog futures are mixed at midmorning.
- Lean hog futures are mostly weaker amid continued technical and fundamental pressure.
- The CME lean hog index is down 90 cents to $74.19 as of Oct. 15.
- The pork cutout value rose $3.00 to $80.55 on Friday, led by an $11 gain in primal ribs. Movement totaled 273.4 loads.
- December lean hogs are facing resistance at the 10- and 20-day moving averages, layered at $67.89 and $68.81, while support lies at $66.36, then at last week’s low of $65.80.