10/28/26 Footing Difficult to Find on Slippery Slope

10/28/2026 Click Above to Watch the Morning Market Talk Video Footing Difficult to Find on Slippery Slope On the Grains: Soybeans and corn showed mild price strength overnight as both markets try to stabilize from the recent sharp price slides. Winter wheat markets are also trying to firm amid corrective buying. Fresh news is limited, leaving technicals and money flow to direct price action. Both have been extremely bearish, with technicals eroding as funds continue to actively sell. January soybeans continue to pivot around the 100-day moving average, currently at $12.46. A bounce from that level is needed before there are any signs of a short-term low. Monday’s low at $12.39 stands as near-term support. Failure at that level would open the downside to the psychological $12 mark and 200-day moving average just below it. December corn futures are pivoting around $4.50 and trading well below the short-, intermediate- and long-term moving averages. The first hurdle for bulls is the 5-day moving average around $4.54. For perspective on the persistence of the sharp downtrend, December corn hasn’t closed above the 5-day moving average since Oct. 7. There’s a broad band of support from $4.49 1/2 to the contract low of…