Commodities
Grain Prices at Risk of Further Decline
Grain prices are in a precarious position according to moving averages, a key indicator of market trends. The Corn Dec '26 contract has fallen below its 7-day MA (529'7) and is being held back by bearish momentum. This trend could continue unless the price can reclaim the 530-533 area, which would indicate a shift in control from sellers to buyers.
Similar concerns are present in the Wheat Dec '26 contract, where prices have fallen nearly 90 cents from its early-September high near 782'4. The moving averages for Wheat show a strong bearish alignment with a widening gap between the 7-, 14-, and 21-day averages, indicating an accelerating downtrend.
The Soybean Nov '26 contract is also experiencing downward pressure but shows some resilience around key levels of resistance at ~1312-1314. However, until prices can reclaim and hold above this area, the path of least resistance remains lower or sideways between 1288 and 1314.
Similar concerns are present in the Wheat Dec '26 contract, where prices have fallen nearly 90 cents from its early-September high near 782'4. The moving averages for Wheat show a strong bearish alignment with a widening gap between the 7-, 14-, and 21-day averages, indicating an accelerating downtrend.
The Soybean Nov '26 contract is also experiencing downward pressure but shows some resilience around key levels of resistance at ~1312-1314. However, until prices can reclaim and hold above this area, the path of least resistance remains lower or sideways between 1288 and 1314.