January 26, 2026
At this hour:
🌽Corn market is down 0-1c,
🌱soybeans are up 4-5c,
🍞wheat is up 0-1c,
🛢️crude oil is up $0.11-$0.12,
💲US Dollar is up 1-2 points
-President Trump warns Canada with a 100% tariff on goods imported from Canada if they strike a deal with China.
-The U.S. is getting hit with a major snowstorm and bitter cold temps slowing the movement of grain and livestock.
-U. S. export sales inspections will be out this morning. I would look for another big report for corn and soybeans.
-Last Friday showed the Funds short about 81,324 contracts of corn, long about 10,060 contracts of soybeans and short 145,616 contracts of wheat.
-Soybean harvest is ramping up in Brazil with the safrinha corn crop getting planted on time.
🐂🐻 Look for a mixed trade to start out the week.
Support/Resistance:
March corn – Support on March corn is at $4.17 3/4 which is the January 13th low. Resistance is at $4.33 3/4 which is the 20-day moving average.
July corn – Support comes in at $4.33 1/2 which is the January 16th low. Resistance comes in at $4.48 which is the 20-day moving average.
March soybeans – Support comes in at $10.38 which is the low from January 2nd. Resistance is at $10.82 1/4 which is the 100-day moving average.
July soybeans – Support is at $10.81 which is the 10-day moving average. Resistance is at $11.04 which is the 100-day moving average.
March Kansas City wheat – Support is at $5.26 which is the 100-day moving average. Resistance comes in at $5.52 3/4 which is the 200-day moving average.
Where do we go from Here:
Strong export sales last Friday helped push March corn futures higher. We saw the highest weekly export sale report on corn since March 2021 and that helped push corn up to the $4.30-$4.31 area. The big question is can we follow up the higher trade last Friday with some higher trade to start out the week? News is on the light side, and we saw Funds net buyers of corn, but that report is as of last Tuesday. Traders were report at the end of the day Friday, Funds were net buyers of about 40,000 contracts of corn and that should put them net short around 40,000-50,000 contracts. It would make sense for the Funds to get close to a neutral position going into spring planting here in the U.S. I still look for March corn to trade between $4.15 and $4.35.
March soybeans are 4-5c higher here this morning on light news over the weekend. Traders are optimistic that we might see an announcement on the 45Z program this week. There are scheduled meetings today and tomorrow to talk over the program. No major issues with Brazilian soybean harvest. Weather continues to be a non-event. Argentina is having a few weather-related issues causing their crop condition scores to be under a little pressure but at the end of the day, Brazil’s crop is so big that it will offset a smaller Argentina crop. Funds are holding a small net long positions around 10,000 contracts long and I would look for them to stay around that positions size until we get closer to U.S. planting window. I look for March soybeans to trade between $10.35 and $10.80.
March Kansas City wheat finally broke out to the upside. These bitter cold temps are pushing well into the southern wheat plains, causing concern about winter kill with the lack of snow cover. Funds are still holding a pretty big net short position of 145,616 contracts short of all wheat. On the wheat chart, I look for a little bit of resistance at the January 12th high of $5.44 3/4 and then the 200-day moving average comes into play at $5.52 3/4 on the March Kansas City wheat chart.
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