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Gary's Blog 11/20/25 2:35:34 PM
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11-20-25
An early morning rally failed as futures finished deep in the red. Soybeans had been overbought and long overdue for a correction. With the recent rally US beans have become uncompetitive in the marketplace with Brazil nearly a $1 cheaper landed in China. Key support levels must hold, or technicals could turn bearish in a hurry. Corn has slipped almost 16 cents from its previous highs while wheat has come under modest pressure. Basis is stagnant as cash pipelines have been replenished on the post-harvest rally.
11-19-25
Soybeans were victim of buy the rumor sell the fact today closing 17 cents lower. Traders were hopeful China has been securing beans, but it might not have been as much as hoped/promised. South America is off to a great start with record yields being penciled in. (way to early imo) The large scale buying that was in the “trade truce” might not be as clear once thought. Some are suggesting China took ownership of futures positions instead of the physical. This would allow them to stretch out physical delivery but still show their commitment to US beans via futures. Some will argue this will have the opposite effect as futures will sell off once they exchange into cash contracts and start shipments. It’s something to keep an eye on moving forward. Wheat and corn took on follower roles today closing 9 and 7 cents lower respectively.
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