Tidbits, Corn & Soybeans Technicals, Crude Oil, ENSO, Export Inspections & Sales 12/16/25
- Wright team
- 15 minutes ago
- 4 min read
Tidbits
Flash sales: Yesterday morning, the USDA announced the sale of:
150,320 mts of old crop corn to unknown
136,000 mts of old crop soybeans to China
Soybeans: All eyes yesterday were on January soybeans as its price traded into the 27 October gap on the daily chart by 3¼¢, reducing the gap to 4¢. January beans settled 1½¢ above the top of the gap (which is friendly), but down 5¢ on the day.
Yesterday’s NOPA crush was lower than expected at 216.041 million bushels but was still a record for November. The market expected 220.285 million bushels. Soybean oil stocks were higher than expected by 105 million pounds, which pressured soybean oil along with the lack of clarity from the government on the biofuel policy.
March corn really needed to stay above the 24 November low of $4.34½, if it is to keep its chances of continuing an uptrend, technically speaking. It did just that yesterday by a couple cents. More importantly, March corn bounced higher after declining to its 100 day moving average of $4.37. So $4.34½ and $4.37 remain the key supports. Still, since late October the trend has been going sideways.
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