Corn looks to continue September trend, soybeans looking for trade news with China

“Technical buying and short covering have supported the corn market into the end of August," Total Farm Marketing said. "December corn futures finished the month trading higher on Friday’s close. The first positive month since May. An improved technical picture should keep buyers active. December corn futures have traded higher 5 out of the last 6 years in the month of September.”

“Lack of a potential trade deal with China from this past week of negotiations is pressuring the market and Chinese buyer look to Brazil, Argentina, and Uruguay for soybean supplies in the window they typically buy U.S. soybeans,” Total Farm Marketing said.

Much of the Midwest is seeing cooler weather. “A cold snap is expected across a large portion of the Corn Belt with some areas seeing highs in the 50s,” Bryant Sanderson, with CHS Hedging, said.