Traders gear up for one of the biggest USDA reports of the year.
Traders are gearing up for the end of the month and end of the quarter, which comes along with one of the biggest reports of the year. Here’s 20 years of historical data and levels to watch
Outside Markets & Headlines
Equity markets opened lower Sunday night with crude oil $2-3 higher out of the gate. Those first 3-4 hours of trade had that recently common uncertainty feel to it, for a Sunday night. Markets have since settled with equities back in positive territory and crude oil basically sideways for much of the night. Gold and silver got hit hard early in the Sunday night session but are back on firm footing this morning.
Grain Market Specific Headlines
-Reuters
Chicago soybeans and corn rose on Monday, recouping some of the previous session’s losses, underpinned by higher crude oil prices as a widening U.S.-Israel conflict with Iran lifted energy markets.
Farmers in Brazil harvested 72.99% of the expected 2025/26 soybean area, below the 81.31% seen at this time last year, but near the five-year average of 73.95%, consultancy firm Patria AgroNegocios said on Friday.
Rain continued to fall in parts of the country throughout the week as it entered the harvest’s final stage, Patria said.
But the amount of rainfall is expected to decrease in the coming days, allowing fieldwork to proceed more smoothly, it added.
Mato Grosso state continues to lead the country on pace, having harvested 99.3% of its estimated area.
Historical Data for Quarterly Report
We’ve compiled 20 years of data, showing how acreage and stocks estimates stacked up to what the USDA printed, along with price action for old crop and new crop contracts.
If you’re having trouble expanding the image to see the data, please reach out.
Corn Acreage & Ending Stocks – Blue Line Futures
Soybean Acreage and Ending Stocks Analysis – Blue Line Futures
Corn
Technicals (May)
The technical landscape for corn really hasn’t changed much for the last 2-3 weeks as we’ve been mostly sideways, confirming our bias which has been that there’s ample opportunity for shorter term traders on both sides of the market. The 20-day moving average continues to be watched closely as a key support level, that comes in at 459 1/2 this morning. A failure to sustain a close above there could open the door for technical pressure. Significant support below comes in from 446 3/4-449 1/4. On the flipside, our first resistance pocket was tested and held to a T on Friday, keeping it intact to start this week’s trade; 469-470 1/2.
Technical Levels of Importance
Resistance: 469-470 1/2***, 476-477 3/4***, 487 1/4-488****
Pivot: 463 1/4-464
Support: 457-459 1/2***, 446 3/4-449 1/4****, 442 1/2**
Seasonal Tendencies
Below is an updated look at historical price averages for December corn over different time frames, 5, 10 ,15, 20, and 30 years. Historically the month of March has proven to be on the choppier side, with shorter term price averages looking more favorable than the longer term ones.
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