10/15/25 The Last Bit of Toothpaste

10/15/2025 Click Above to Watch the Morning Market Talk Video The Last Bit of Toothpaste On the Grains Good morning, Justin McKinney here, I’m filling in for Brian and am fresh out of the bullpen. Overnight row crops were weaker, following a decline in crude oil prices and an overall lack of enthusiasm in the two complexes. Support on both corn and beans could be tested today. December corn at $4.10 and November beans at $10.01 (yesterday’s low) will need to hold; we don’t want to turn the weekly charts lower. Weekly corn shipments, which were released a day late due to the holiday, totaled 44.5 MMT. This number was below expectations, sharply lower than last week, and also the lowest of the 25/26 marketing year. However, the good news is that cumulative inspections now stand at 313 MBU, well ahead of last year’s 190 MBU. The “needed” pace to meet the USDA’s 2.97 BBU program is 52.9 MBU/WK, nearly the same as what we “needed” at this time last year. Top destinations were Mexico: 299,000 MT, Colombia: 203,000 MT, South Korea: 140,000 MT, and Japan: 112,000 MT. My one word of caution is that if they ever open the…