April 14, 2026
At this hour:
🌽Corn market is up 2-3c,
🌱soybeans are up 0-1c,
🍞wheat is up 3-4c,
🛢️crude oil is down $2.55-$2.56,
💲US Dollar is down 26 points
-The U.S. Naval blockade of the Strait of Hormuz remains in effect, putting pressure on crude oil.
-Talks between the U.S. and Iran are still going on but not much progress has been mentioned.
-Winter wheat conditions slipped another 1% in the “Good/Excellent” category.
-Western Kansas and Oklahoma look to remain on the dry side, supporting the wheat prices.
-Corn export inspections continue to run well ahead of the average pace needed to achieve USDA annual export estimate.
-Soybeans and wheat export inspections continue to remain sluggish.
🐂🐻 Look for a choppy/mixed day of trade on this turn around Tuesday.
Support/Resistance:
May corn – Support on May corn is at $4.38 which is the low from April 10th. Resistance is at $4.48 1/4 which is the 10-day moving average.
December corn – Support comes in at $4.67 1/2 which is the 100-day moving average. Resistance comes in at $4.77 1/2 which is the 10-day.
May soybeans – Support comes in at $11.60 1/4 which is the 50-day moving average. Resistance is at $11.79 3/4 which is the high from March 26th.
November soybeans – Support is at $11.32 1/2 which is the 50-day moving average. Resistance is at $11.74 1/4 which is the high from March 12th.
May Kansas City wheat – Support is at $5.89 3/4 which is the 50-day moving average. Resistance comes in at $6.07 which is the 10-day moving average.
Where do we go from Here:
Corn in the U.S. is 5% planted, right in line with expectations. Weather forecasts look a little wet for the heart of the corn belt this week so we could see a little slower start to planting than we have seen the past few years. Keep in mind, it is really hard to rally a market on planting delays, especially when it is only April 14th. Corn prices are caught between support from the wheat market but feeling pressure from energy prices pushing lower. Basis levels across most of the U.S. are firming up on corn. The exception is corn basis in the Dakotas, where we still have piles of corn to get picked up and bins to get emptied. I look for May corn futures to continue to hold support in the $4.40 area, but upside will be limited without any fresh new news to trade on.
Soybean prices came under pressure yesterday after China announced they were going to send some tankers into the Strait of Hormuz. This brought into question just how strong our relationship is with China. I do believe China did turn their tankers around, but it got the market a bit nervous. Soybean planting is off to a good start at 6% planted vs 2% a year ago. Cool soil temps across much of the U.S. should see farmer continue to plant a few more soybeans vs corn. Not much else has changed in the soybean complex. May soybean futures continue to trade between $11.50 and $11.70.
The areas of western Kansas and Oklahoma continue to miss the rains, and the crop condition scores continue to lose some ground. Spring wheat acres are projected to be lower, so a combination of these 2 headlines has the Funds adding to their length in the wheat complex. May Kansas City wheat is back trading above $6.00 and look to be headed back to resistance in the $6.30 to $6.40 area.
