January 20, 2026
At this hour:
🌽Corn market is down 1-2c,
🌱soybeans are down 3-4c,
🍞wheat is down 1-2c,
🛢️crude oil is up $0.14-$0.15,
💲US Dollar is down 89-90 points
-The U.S. is looking to increase tariffs on the EU over Greenland. 10% by Feb. 1 and then up to 25% later this summer.
-Weekly export inspection will be out this morning. We should see a very strong week of activity.
-Soybean harvest is ramping up in Brazil. Early yields are as good as expected.
-U.S. Stock markets are under pressure while precious metals are soaring this morning.
-Cold weather hitting the Upper Midwest will slow down the truck traffic this week.
🐂🐻 Look for a lower trade to start out the week of trading.
Support/Resistance:
March corn – Support on March corn is at $4.10 which is the August 12th low. Resistance is at $4.25 1/2 which is the October 14th low.
July corn – Support comes in at $4.28 1/2 which is the August 12th low. Resistance comes in at $4.41 1/2 which is the October 14th low.
March soybeans – Support comes in at $10.38 which is the low from January 2nd. Resistance is at $10.58 1/4 which is the 20-day moving average.
July soybeans – Support is at $10.64 3/4 which is the low from January 2nd. Resistance is at $10.82 1/4 which is the 20-day moving average.
March Kansas City wheat – Support is at $5.08 1/4 which is the January 2nd low. Resistance comes in at $5.36 which is the high from December 26th.
Where do we go from Here:
Grain prices are starting out the week a bit lower. The U.S. is threatening an increase on tariffs on the EU over trying to take over Greenland. This new has money flow coming out of the stock market and commodities a bit and going into precious metals. Last week we saw a very active week of corn export sales and now this week the U.S. Dollar is under pressure I would sure think that will only increase a little more demand for U.S. corn. The basis levels in the eastern part of the U.S. continue to firm up while there is still a lot of corn moving in the western part of the U.S. keeping basis levels steady as best. Look for March corn to settle in a $4.15 to $4.25 trading range here this week.
Soybean prices are starting out the week down a couple cents. Harvest is starting to ramp up in Brazil with the early yields coming in as good or better than expected. This is not anything too surprising, but it is just a confirmation that Brazil should have a huge soybean crop. Exports of U.S. soybeans going forward should be closely watched. Currently the U.S. soybeans are 40-60c per bushel too high compared to South American soybeans so any export business will be good to see over the next 2-3 months. The U.S. imposing a 10% on the EU as of February 1 does complicate things a bit and could slow down some exports sales in the near future. I look for March soybean futures to settle in a $10.40 to $10.60 trading range.
Wheat futures are also starting out the week a couple cents lower, following corn and soybeans. The U.S. Dollar down 85-90 points today should eventually lend a little support to the U.S. wheat prices. The Funds are still carrying a big, short position that it feels like they want to unwind a little as we get into the spring weather. I look for March Kansas City wheat to trade between $5.10 and $5.36.
We’re here to help. Call any of our hedging strategists at 844-4AG-MRKT.
