Corn is mostly 2 to 3 cents lower.
- Corn futures are weaker despite export sales and strength in soybean futures.
- USDA reported daily sales of 116,000 MT of corn to unknown destinations during 2026-27.
- The rally in crude oil is driven by fears of a re-escalation of U.S.-Iran hostilities and threats by Tehran to widen attacks on Middle East energy infrastructure. Iran has warned publicly and via private diplomatic channels that renewed strikes by the U.S. and Israel would prompt attacks on airports, pipelines and other economic infrastructure across the Persian Gulf,the Wall Street Journal reported.
- South Africa usually begins planting summer grains, oilseeds, cotton and other crops in October depending on the region, but early-season planting prospects are less than favorable to poor as moisture deficits are prevalent in the main production areas, World Weather Inc. said.
- December corn futures are facing support a t$4.54 3/4, which is backed by this week’s low of $4.53 1/2. Resistance is at $4.62, $4.64 3/4 and $4.69 1/4.
Soybeans are 5 to 6 cents higher, while meal is around $1.00 lower. Soyoil is fractionally lower.
- Soybeans are firmer for the second straight session, but remain technically challenged.
- Malaysian palm oil futures extended gains, holding above MYR 4,800 a ton amid strength in rival edible oils and a tighter supply outlook tied to severe El Niño conditions and Indonesia’s upcoming B50 biodiesel mandate,according to Trading Economics.
- November soybeans are facing resistance at the 10-day moving average, trading at $12.63 1/4, while support lies at $12.51 3/4 and $12.43 1/4.
SRW wheat futures are a penny to 3 cents higher, while HRW wheat is mostly unchanged to a penny lower. HRS futures are unchannged to a penny higher.
- SRW wheat futures are slightly firmer in narrow trade, with technical headwinds and a firmer dollar limiting momentum.
- Ukraine is in talks with neighboring European Union member states about moving customs checks on trucks carrying grain exports from the border to inside those countries in an effort to halt Russian drone attacks on the carriers,the Financial Times reported.
- Sowing of soft wheat and winter barley in France accelerated last week, according to data from farm office FranceAgriMer, as farmers got field work done before wet weather this week.
- December SRW wheat futures are facing initial support at $6.20 ½, which is backed by this week’s low of $6.21. Resistance is at $6.30, $6.35 1/4 and $6.39 1/2.
Live cattle are weaker while feeders are higher at midsession.
- Live cattle futures are modestly weaker in consolidative trade as traders wait for this afternoon’s Cattle on Feed report and cash trade to develop.
- USDA will release Cattle on Feed and Cold Storage reports this afternoon. Placements will be the most watched COF metric, along with a quarterly breakdown of the heifer-steer ratio as traders look for signs of herd rebuilding. Click here to read more.
- Boxed beef values faded on Thursday, with Choice down $3.12 to $369.47 and Select down $4.93 to $350.41. Movement improved to 123 loads.
- December live cattle are trading between this week’s high of $232.45 and the 200-day moving average, trading at $229.41.
Hog futures are lower at midmorning.
- Lean hog futures are weaker as technical and fundamentals continue to limit short-covering interest.
- The CME lean hog index is down 67 cents to $72.15 as of Oct. 21.
- The pork cutout value rose 73 cents to $75.23 on Thursday, led by a near $7 gain in primal bellies. Movement totaled 300.4 loads.
- December lean hogs are facing initial support at $65.09, which is backed by this week’s low of $65.05. Resistance stands at $65.97, which is backed by the 10- and 20-day moving averages.