Corn is mostly chopping around unchanged.
- Corn futures mostly firmer in tandem with soybeans and wheat.
- USDA reported daily sales of 129,540 MT to Mexico during 2026-27.
- USDA reported weekly export inspections totaled 1.368 MMT during the week ended Oct. 1, down 213,314 MT from the previous week. Net inspections were within analysts’ range of expectations from 1.25 to 1.5 MMT.
- The farm bill has expired, and lawmakers say a new agreement won’t come for at least a month as Congress navigates a complex legislative landscape,reports Michelle Rook. Congress had previously extended the 2018 farm bill three times before the Sept. 30, 2026, expiration date.
- AgRural reported first corn plantings were 38% complete in Brazil’s center-south region, up four percentage points on the week and 2 points behind year-ago at this time.
- December corn futures are facing initial support $5.24 ¾, which is backed by the 100- and 200-day moving averages, while resistance stands at $5.01 ½, then at the 10-, 40- and 20-day moving averages, layered from $5.16 1/2 to $5.24 3/4.
Soybeans are a dime higher, while meal is around $1.00 higher. Soyoil futures are 100 points higher.
- Soybeans are correctively higher in the wake of recent selling, with support serving at the 40-day moving average.
- USDA reported weekly export inspections totaled 1.138 MMT during the week ended Oct. 1, down 17,657 MT from the previous week. Net inspections were near the low-end of the pre-report range of estimates from 1.0 to 1.44 MMT.
- USDA reported daily sales of 104,000 MT of soybeans to unknown destinations during 2026-27.
- Brazilian farmers had planted 7.3% of the expected 2026-27 soybean crop as of last Thursday, according to AgRural.
- November soybeans are being supported by the 40-day moving average of $12.745 ¾, while resistance stands at the 10- and 20-day moving averages, trading at $13.01 and $13.08.
Wheat futures are mostly 7 to 8 cents higher.
- SRW wheat futures are edging higher but technical resistance is curbing buyer interest.
- USDA reported weekly export inspections of 302,356 MT during the week ended Oct. 1, down 34,691 MT from the previous week. Net inspections topped analysts’ pre-report range of estimates from 200,000 to 300,000 MT.
- Massive Russian airstrikes targeted industrial and port infrastructure in Ukraine’s Odessa region,Reuters reported Monday, citing comments by the region’s governor.
- Russia’s September grain exports are estimated at 2.8 MMT, according to Sovecon, up from 2.4 MMT in August.
- Saudi Arabian state buying agency the General Food Security Authority (GFSA) on Monday purchased around 683,000 MT of wheat in an international tender, it said. Delivery of the hard wheat was sought in November and December to Saudi Red Sea ports only, according to the statement.
- December SRW wheat futures are up against resistance at the 10-day moving average, trading at $6.95, which is backed by the 20- and 40-day moving averages. Initial support lies at the 100-day moving average of $6.76 1/2.
Live cattle and feeders are lower at midsession.
- Cattle futures are weaker to start the week with pressure from declining wholesale fundamentals.
- Cash cattle trade pointed to slightly lower prices, though the official cash quote won’t be released until later this morning.
- Choice boxed beef fell $2.60 on Friday to $374.19 while Select rose $1.60 to $354.49. Movement totaled 119 loads.
- December live cattle are facing support at the 40-day moving average, trading at $218.98, while resistance stands at the 10-day moving average, trading at $221.42, which is backed by resistance at $222.98.
Hog futures are firmer at midmorning.
- Lean hog futures are firmer amid extended short-covering despite weak cash and wholesale fundamentals.
- The CME lean hog index is down 51 cents to $80.20 as of Oct. 1.
- The pork cutout value fell 81 cents to $84.48 on Friday, led by declines in primal hams and butts. Movement totaled 295.5 loads.
- December lean hogs are testing resistance at the 20-day moving average, which is backed by the 40-day, trading at $71.61. Support is at $69.22.