🌾 Morning Technical Outlook & WASDE Preview – June 12, 2025
Grain markets are quiet but poised ahead of today’s June WASDE report, due at 11:00 AM CT. Below is your full early market technical analysis across corn, soybeans, and all three wheat classes — along with a breakdown of what the trade expects from USDA’s updated balance sheets.
📊 WASDE Preview – What the Market Expects
USDA is not expected to make major changes this month, but even minor adjustments to yield, demand, or South American production could trigger a reaction. Traders are watching:
- Corn: U.S. carryout expected slightly higher due to weak exports; yield may hold near 181 bpa.
- Soybeans: Stocks projected to remain above 440 mbu; downside risk if demand slips.
- Wheat: Slightly higher winter wheat production expected; spring wheat ratings closely watched.
| Crop | May Ending Stocks | Trade Estimate |
|---|---|---|
| Corn | 2.102 bbu | 2.10 – 2.15 bbu |
| Soybeans | 445 mbu | 430 – 460 mbu |
| Wheat | 766 mbu | 760 – 780 mbu |
📈 Morning Technical Setups – Verified Levels
🌽 July Corn (ZCN25)
July corn is trading near 437’4, with immediate support at 436’0 and resistance at 440’6. A break above 442’2 opens the door to test 445’0+. On the downside, a move through 436’0 could drag prices toward 432’0.
🌱 July Soybeans (ZSN25)
ZSN25 is holding near 1047’0 after bouncing off support at 1042’0. Resistance stands at 1050’4, with an upside trigger at 1054’0. If soybeans fail to hold 1042’0, look for potential downside to 1040’0 or lower. All eyes on Brazil production adjustments in today’s report.
🌾 July Chicago Wheat (ZWN25)
Chicago wheat is trading at 535’0, with support at 532’2 and resistance at 540’4. A close above 544’0 could trigger technical buying into the 550s. A bearish USDA number could pull the contract back toward 528’0.
🌾 July Minneapolis Wheat (MWN25)
MW is printing higher near 624’6, breaking out from the 617’2 support area. Resistance sits at 628’0, followed by 634’0 as the next objective. Spring wheat production revisions today could fuel continued upside—or halt the move if conditions are seen improving.
🌾 July Kansas City Wheat (KWN25)
HRW wheat is consolidating near 621’2. Resistance is marked at 625’6 with a potential breakout line at 630’0. If momentum stalls, support comes in at 617’2 and below that, 612’4. Expect volatility as USDA updates HRW harvest and global outlook.
Disclaimer: Trading futures involves substantial risk and is not suitable for all investors. The above analysis is for informational purposes only. Past performance is not indicative of future results. Always consult your broker or advisor.
Come back for our USDA WASDE breakdown later today
