Corn is mostly a penny to 2 cents lower.
- Corn futures are weaker amid technical resistance and outside market pressure.
- China’s autumn grain production has been generally stable, and another bumper harvest is expected this year, according to the National Bureau of Labor Statistics.
- Regular rounds of precip will cross the Midwest through Oct. 29 providing beneficial increases in soil moisture for winter crops while slowing fieldwork.
- December corn futures are being support at the 20- and 40-day moving averages, each trading at $4.20, while resistance stands at the 100-day moving average of $4.21.
Soybeans are mostly 8 to 9 cents higher, while soymeal is around $2.20 higher. Soyoil is fractionally higher.
- Soybeans are being led higher by extended gains in meal futures and easing trade tensions between U.S./China.
- Trader and investor sentiment improved early Monday as President Trump sought to ease trade tensions with China after markets were rattled early Friday by U.S. bank-credit woes.
- Brazil’s soybean planting efforts advanced to 24% complete as of last Thursday, according to AgRural.
- A mostly favorable mix of rain and sunshine will occur across Brazil and Paraguay during the next two weeks and the drier areas in central and northern Brazil will benefit from the coming rain while fieldwork is slowed at times with breaks between rounds of rain likely adequate to allow farming activity to advance, according to World Weather Inc.
- November soybeans are testing resistance at 100-, 40- and 200-day moving averages, layered from $10.25 3/4 to $10.29. Meanwhile, initial support lies at the 10- and 20-day moving average, each trading at $10.15.
Winter wheat futures are mostly unchanged to 2 cents lower. HRS futures are around a penny firmer.
- SRW wheat futures are chopping around unchanged, with pressure from a firmer U.S. dollar and boosted production prospects.
- Analysts have raised their estimates for Australia’s wheat harvest, a Reuters poll showed, as better-than-expected yields in western cropping regions boosted the production outlook despite losses caused by dry conditions in parts of the south.
- Ukrainian farmers had threshed around 35 MMT of grains from the 2025 harvest as of October 20, according to its economy ministry.
- China launched a 60-day campaign to secure wheat planting in the North China Plain winter wheat belt, after heavy rains left fields wet, which delayed planting, according to Reuters.
- December SRW wheat futures are facing support at the 10-day moving average of $5.02 1/2, while resistance stands at $5.05 3/4, which is backed by the 20-day moving average.
Live cattle are firmer, while feeders are mixed at midsession.
- Cattle futures are firmer in corrective trade, though technical support is curbing selling efforts.
- President Trump said Sunday the United States could purchase Argentinian beef to bring down prices for American consumers.
- Boxed beef prices rose on Friday, with Choice up 66 cents to $366.77 and Select up $1.34 to $350.27.
- December live cattle continue to find support at the 10-day moving average of $243.24, while resistance stems from last week’s high of $248.30.
Hog futures are weaker at midmorning.
- Nearby lean hogs are weaker in narrow trade, with pressure from extended cash weakness.
- The CME lean hog index is down another 47 cents to $96.12.
- The pork cutout rose 53 cents to $102.70 on Friday, led by gains in bellies.
- December lean hogs are trading within Friday’s range, with support at Friday’s low of $82.10, while resistance stands at $82.93.