Market Snapshot | Mostly sideways trade amid lacking government data

Oct. 8, 2025

Pro Farmer's Market Snapshot
Pro Farmer’s Market Snapshot
(Pro Farmer)

Corn is chopping around unchanged.

  • Corn futures are modestly firmer but continue to be limited by technical resistance and a firmer U.S. dollar.
  • Brazil’s corn exports in October are expected to reach 6.0 MMT, compared to 5.67 MMT during the same period last year, according to Anec.
  • Some recent rain has disrupted harvesting, but limited precip from the Delta into the eastern Midwest will ensure that fieldwork advances well once again, notes World Weather Inc. Some periodic rain is expected in northwestern production areas may disrupt fieldwork.
  • Ukraine corn production is increased to 31.2 MMT, amid supportive satellite imagery data.
  • December corn futures continue to pivot around $4.20. Resistance stands at $4.24 1/4, the 100-day moving average, while bulls are seeking to hold support at Monday’s low of $4.17 1/4.

Soybeans are 3 to 6 cents higher, while soymeal is around $1.20 higher. Soyoil is around 20 points higher.

  • Soybeans are firmer in inside trade as technical headwinds continue to curb an extension higher.
  • Brazil’s soybean exports during October are expected to reach 7.12 MMT, versus 4.44 MMT during the same period last year, according to Anec. Soymeal exports are expected to reach 1.92 MMT, versus 2.46 MMT last year.
  • Argentina’s government said it had ordered its oilseed workers’ unions to suspend plans for an indefinite strike over wages at processing plants, according to the Labor Ministry.
  • Stonex estimates demand for biodiesel in Brazil will increase by 6.3% in 2026, according to estimates released earlier today.
  • November soybeans continue to slowly grind higher. Resistance stands at $10.27, the 100-day moving average, which capped the upside overnight. Additional strength targets resistance at $10.35 1/2. Support stands at $10.20 on a push lower.

Winter wheat futures are mostly unchanged, while HRS futures are around 2 to 4 cents higher.

  • SRW wheat futures are modestly firmer in corrective trade, though a stronger dollar continues to crimp short-covering efforts.
  • Kazakhstan’s 2025-26 wheat production remains unchanged at 16.3 MMT, despite recent harvest delays.
  • Wheat exports from the Black Sea region have slowed, but increased shipments from the America’s and Australia are helping balance global supply. Russia exported 9.91 MMT of wheat in the first quarter of 2025-26, which was a 31% decline from the same period last year, though September shipments rose slightly.
  • December SRW wheat are trading near recent lows. Prices went into the break off session lows but still continue trade near yesterday’s contract low close. Support stems from $5.05 while bulls are eyeing resistance at $5.13.

Live cattle are notably higher, while feeders are marking heftier gains at midsession.

  • Nearby live cattle are firmer amid support from firming wholesale fundamentals.
  • Only light cash trade has transpired so far this week, at an average of $227.00.
  • Choice boxed beef rose $2.63 to $365.97, while Select firmed 91 cents to $348.88 on Tuesday. Movement was solid at 181 loads for the day.
  • December live cattle are trading within Tuesday’s upper range, with initial resistance at $238.325, while initial support lies at the 10-day moving average of $236.88.

Hog futures are firmer at midmorning.

  • Nearby lean hogs are firmer in modest corrective trade, though fading cash fundamentals and hovering technicals are curbing more robust gains.
  • The CME lean hog index is down another 60 cents to $101.42 as of Oct. 6.
  • The pork cutout value slid $1.32 on Tuesday to $106.03 amid declines in all cuts aside from primal hams. Movement was strong at 344.7 loads.
  • December lean hogs continue to face support at $85.51, while resistance stands at the 40-day moving average, currently trading at 86.92.