12/05/2025 Well… We’re Waiting

12/05/2025 Click Above to Watch the Morning Market Talk Video Well… We’re Waiting On the Grains Soybeans failed to sustain early buying overnight and are lower this morning – poised to end a seven-week string of higher weekly closes. January futures are holding above the neckline (just under $11.10) on the head-and-shoulders formation on the daily chart that I mentioned on Thursday… something to monitor ahead of the weekend. Corn and winter wheat markets are mildly lower this morning. Corn and SRW wheat futures are currently lower for the week, while HRW contracts are in line to finish higher. Spring wheat futures are modestly higher this morning but lower for the week. USDA didn’t announce any daily soybean export sales to China on Thursday for a fourth straight day, despite multiple industry sources continuing to signal purchases have been made. As I discussed in my subscriber video yesterday afternoon, calendar spreads on the board, along with basis and movement at ports aren’t signaling activity. Something doesn’t add up. We’ll see if USDA confirms any Chinese purchases this morning. Here are the reporting guidelines from USDA’s Foreign Agricultural Service, which is responsible for export sales activity – both daily and weekly…