August 11, 2026
At this hour:
🌽Corn market is up 1c,
🌱soybeans are down 1c,
🍞wheat is up 1-2c,
🛢️crude oil is up $2.00,
-USDA report out tomorrow
-corn/bean conditions unchanged, spring wheat conditions dropped 4 points unexpectedly
-exports remain strong for this time of year.
🐂🐻 Look for a higher to steady trade today.
Support/Resistance:
September corn – Support on September corn is at $4.35 1/4 which is the low from August 3rd. Resistance is at $4.45 1/2 which is the 10-day moving average.
December corn – Support comes in at $4.58 which is the 50-day moving average. Resistance comes in at $4.68 1/4 which is the 10-day moving average.
September soybeans – Support comes in at $11.31 1/4 which is the 200-day moving average. Resistance is at $11.73 3/4 which is the 10-day moving average.
November soybeans – Support is at $11.71 which is the 100-day moving average. Resistance is at $11.90 3/4 which is the 10-day moving average.
September Kansas City wheat – Support is at $6.73 1/2 which is the 100-day moving average. Resistance comes in at $7.16 which is the 10-day moving average.
Where do we go from Here:
Corn/soybeans continued a range bound market – corn has closed close to unchanged the past 2 sessions with soybeans showing slightly more volatility but not much. Wheat had a little more life on headlines but again relatively quiet – I don’t expect that to change today with report out tomorrow. I did see my first official estimate below 180/53 with DTN showing a 178.5/52.1 yield. That puts quite a range of estimates ahead of Wednesday.
Corn conditions were unchanged on the week holding steady at 61% G/E vs 72% last year & below the 5 year average of 64%. Soybean ratings declined 1% to 62% vs 68% last year and in line with the 5 year average. Spring wheat came in lower than expected at 51% and declining 4% on the week. We’re barely ahead of the 5 year average at 48% G/E.
Ratings are showing what we already know – there’s a stark state by state difference – Iowa at 78% vs North Dakotas 27% is quite the variance.
Export inspections showed that corn continues to be strong coming in above trade expectations and the volume was the largest for any August week on record. While we did have a corn flash sale to unknown destinations today – as of last week still no corn shipped to China.
Soybeans/Wheat were both in line with expectations – soybeans continue to be strong while wheat is lagging compared to previous years.