Markets are under pressure overnight with wheat trading lower to match Monday’s losses in the corn and beans while better than expected crop ratings are putting more pressure on the bean market.

Managed funds to start the week were estimated as net sellers of 10k corn to push the net short out to 186k, net sellers of 7k beans to push the net short to 19k, and net sellers of 1k wheat to push the net short to 58k.

Crop progress showed corn rated 73% g/e (73 expected), beans rated 70% g/e (67 expected), and spring wheat rated 49% g/e (52 expected).

Argentina’s grains processing trade association said the country was ready to resume soybean and their product exports once the government formalizes the tax cuts that were announced over the weekend.

China soybean demand is expected to weaken at a time when they usually import the glut of the U.S. beans that they buy as record imports earlier in 2025 have increased soymeal supplies in China.

U.S. and China trade representatives met in Sweden on Monday with little reported to the media after the meeting. The two sides are expected to continue discussions today.

December corn posted a lower low, lower high, and lower close to start the week with the market testing support near 4.12 this morning. The market is getting to be a bit oversold after recent losses, but directional indicators are turning more bearish. Support is 4.12 and resistance 4.30.

Beans posted a lower low, lower high, and lower close to start the week. The market tried to bounce overnight, but is probing new lows again this morning. The market is getting to be oversold, but directional indicators are turning more negative. Support is 10.00 and resistance 10.30.

Corn is under pressure again this morning with a wet forecast limiting buying interest. The key reversal from a couple weeks ago hasn’t been taken out, but the market is testing important support levels this morning. Good demand is emerging with tender activity picking up. With bearish yield estimates partially priced in, buyers are expected to emerge in this price area.

Beans dropped to new recent lows again this morning as a bearish forecast and better than expected crop ratings are weighing. The bean market needs a trade deal with China to save it as global supplies remain record large. Producers should use option strategies to establish floors with upside.

Corn down 1

Beans down 1-2