Corn is mostly a nickel higher.
- Corn futures are firmer in tandem with soybeans, with support from a pullback in the U.S. dollar.
- As harvest gets underway, rising global bond yields and higher interest rates are altering the financial equation for crop storage. Read the full story on Pro Farmer on how to calculate true storage costs.
- USDA rated the corn crop as 54% good to excellent, as of Oct 3, down three percentage points from the previous week. Harvest was estimated to be 23% complete, up five percentage points on the week, but four points behind the five-year average.
- December corn futures are being limited by the 10-, 40- and 20-day moving averages, layered from $5.21 3/4 to $5.27 1/4. Support lies at $5.18, $5.14 3/4 and the psychological $5.00 level.
Soybeans are 12 to 13 cents higher, while meal is around $6.00 higher. Soyoil futures are fractionally lower.
- Soybeans are extending Monday’s gains along with meal futures, with support serving at the 40-day moving average,
- USDA rated the soybean crop as 57% good to excellent as of Oct. 3, down one percentage point from the previous week. Harvest was estimated to be 25% complete, up eight points on the week but eight points behind the five-year average.
- According toa report by the South China Morning Post, Beijing sought a broader agenda for President Xi Jinping’s September state visit to Washington than the U.S. ultimately permitted. U.S. officials rejected proposals for Xi to engage directly with American business leaders, deliver a university address, or host tech executive talks on artificial intelligence over security concerns, the report said.
- Brazil’s soybean crushing capacity rose 13% in 2026 from the previous year to 86.4 MMT annually, according to Abiove earlier today. The expansion reflects stronger demand for soybean oil, the main feedstock for Brazil’s biodiesel industry, and for soybean meal.
- November soybeans continue to find support at the 40-day moving average of $12.78 ½, while resistance stands at the 10- and 20-day moving averages, trading at $12.97 and $13.06 1/4.
SRW wheat is mostly 2 to 3 cents higher, while HRW futures are 7 cents higher. HRS futures are mostly 3 cents higher.
- SRW wheat futures are firmer for the fourth straight session amid short-covering.
- USDA estimated 36% of the winter wheat crop was planted as of Oct. 4, up nine percentage points on the week, but ten points behind the five-year average.
- World Weather Inc. forecasts much improved summer crop harvest and winter crop planting conditions are expected this week due to limited rain and warm temps, which should allow for rapid field progress.
- December SRW wheat futures are being supported by the 10-day moving average, trading $6.93 while resistance stands at the 20 and 40-day moving averages, layered at $7.10 and $7.15.
Live cattle and feeders are solidly higher at midsession.
- Cattle futures are posting solid gains with support from improving wholesale fundamentals.
- Cash cattle trade averaged $219.80 last week, down 87 cents from the previous week.
- Boxed beef rose on Monday, with Choice up $4.07 to $378.26 and Select $4.08 to $358.57. Movement was light at 67 loads.
- December live cattle are being supported by the 40-day moving average of $218.88, while resistance stands at $223.64.
Hog futures are mostly weaker at midmorning.
- Lean hog futures are mostly weaker in corrective trade following recent strength.
- The CME lean hog index is down 57 cents to $79.63 as of Oct. 2.
- The pork cutout value rose $1.53 to $86.01 on Monday. Movement totaled 206.2 loads.
- December lean hogs are now facing support at the 20-day moving average, trading at $70.42, which is backed by the 10-day moving average and last week’s low of $67.95.