Home / Business and Economy / Grain Markets Wobble: Bulls Face Bearish Signals
Grain Markets Wobble: Bulls Face Bearish Signals
27 Nov
Summary
- Corn, soybean, and wheat futures hit multi-week lows.
- US soybean sales to China reported for the 2025-26 year.
- Ukraine peace talks signal potential increase in Black Sea wheat exports.
Grain markets are showing signs of weakness, with March corn and winter wheat futures hitting four-week lows, and January soybeans retreating from recent highs. The bullish momentum seen in grain markets over the past week appears to be waning, with price action potentially forming bearish pennant or flag patterns on daily charts. Corn, soybean, soybean meal, and winter wheat bulls require renewed strength to counter confident speculative bears.
Market participants are looking towards stronger domestic and export demand for corn, alongside fresh soybean purchases from China, to provide price support. The USDA reported a daily U.S. soybean sale of 123,000 metric tons to China for the 2025-26 marketing year. Encouragement for soybean bulls also stems from President Trump's positive comments on a call with China's President Xi Jinping regarding agricultural trade.
Concerns are mounting for wheat futures due to reports of progress on a Ukraine-Russia peace deal. Such an agreement could lead to increased grain, particularly wheat, exports from the Black Sea region. As U.S. harvests conclude, attention is shifting to growing conditions in South America, with potential weather-related market scares anticipated for corn and soybeans in Brazil and Argentina.
