Corn and Soybean Futures Eye Early August Lows as Harvest Pressures Markets
As harvest ramps up across key growing regions, December corn and November soybean futures are showing signs of holding their early August lows—but that support may soon be tested. Analysts caution that the market could see renewed pressure as sellers work to push values lower in the coming weeks.
“December corn and November soybeans look safe to hold those early August lows, but we think sellers will continue pushing hard toward those levels. We look at December corn, November soybeans, pre-harvest lows look to hold firm from early August.”
While those pre-harvest lows offer a bit of a safety net, it’s also likely that the early harvest highs may have already passed. Futures movement over the past week reflects cautious optimism tempered with bearish signals.
“We may have seen though the early harvest highs. We doubt December corn has a lot of support to get past the 430-435 level from here, and November soybeans certainly tough to get above that 1060 level from late August.”
Some producers are choosing to sell directly off the combine, taking advantage of cash prices while opting to reinvest a portion of those profits into deferred options. This approach is gaining traction as market volatility remains high.
“We do hear of some producers selling off the combine, taking the cash, and investing a portion in deferred corn and soybean options, advising you to check with your local advisor.”
In the broader market context, geopolitical and trade developments continue to cast a shadow over commodity markets. Despite potential Chinese interest in U.S. soybeans, attention has shifted toward unrelated global news.
“U.S. and China finalizing deal that would bring the social platform TikTok under the ownership and control the U.S. Says a lot about the world we live in now when ownership of TikTok takes precedence over any trade talk and China buying U.S. soybeans.”
As harvest advances and market uncertainty persists, producers are urged to monitor both technical price levels and global trade headlines. Consulting with local grain marketing advisors remains critical during this key marketing window.
Audio Reporting by Mark Oppold for Southeast AgNet.