August 18, 2026
At this hour:
🌽Corn market is up 2-3c,
🌱soybeans are up 8-9c,
🍞wheat is up 4-5,
🛢️crude oil is up $0.42-$0.43,
💲US Dollar is down 3 points
-Pro Farmer Crop tour is finding disappointing results in South Dakota and Ohio. Both states saw a larger percent decline vs past tours.
-China was in buying more new crop soybeans yesterday.
-U.S. Crop ratings saw both corn and soybean ratings decline 1% from last week.
-Wet conditions, especially in the eastern corn belt, have traders concerned over crop loss.
-NOPA crush out yesterday saw an increase from last month but was about 5 million bushels less than trade estimates.
-Weekly corn export inspections were huge for corn and a marketing year low on soybeans.
🐂🐻 Look for a higher market here for Tuesday.
Support/Resistance:
September corn – Support on September corn is at $4.53 which is the 100-day moving average. Resistance is at $4.68 which is the high from July 24th.
December corn – Support comes in at $4.71 1/2 which is the 100-day moving average. Resistance comes in at $4.92 which is the high from July 24th.
September soybeans – Support comes in at $11.65 which is the 100-day moving average. Resistance is at $12.09 3/4 which is the high from July 29th.
November soybeans – Support is at $11.73 1/2 which is the 100-day moving average. Resistance is at $12.25 which is the high from July 29th.
September Kansas City wheat – Support is at $7.25 3/4 which is the 10-day moving average. Resistance comes in at $7.77 1/2 which is the high from July 24th.
Where do we go from Here:
Corn prices are pushing higher again here this morning. The Pro Farmer Crop Tour wrapped up South Dakota and Ohio yesterday and they found a larger percent drop than most were expecting. Demand remains very strong with weekly corn export inspections coming in at 1.9 MMT, which is the highest level in 10-weeks. Weekly crop condition scores saw a 1% decline and with the recent wet weather especially in the eastern part of the corn belt, we could see those conditions slip again next week. September corn futures are pushing up against resistance at $4.68, which is our high from July 24th. If we can close above $4.68, the next area of resistance is up at contract highs in the low $4.90’s. The Funds remain long and there is no reason for them to get out today so we could see this corn market continue to find good support on breaks and possibly test those contract highs.
In the soybeans, the Pro Farmer Crop Tour found a lot less soybean pods than traders were expecting in South Dakota and Ohio. We still have a couple weeks of August weather yet and that could prove to add some soybeans to the overall yield. The recent wet weather, coupled with crop ratings dropping 1% out of the “good/excellent” category has the soybean market well supported. China was in buying some new crop soybeans from the U.S. yesterday helping add more support. The Funds were back in buying soybeans yesterday and November soybeans closed above the May 13th high. We have a little resistance here at the $12.25 area and if we can take that out and close above $12.25, then November soybeans will push back up towards contract highs of $12.56 1/4. There is getting more talk about the “Super” El Nino and what effects it could have on the South American crop and that seems to be helping push the money flow back into commodities, especially grains.
For the wheat, not much new between Russia and Ukraine. The Black Sea region basically continues to stay offline for now. I was impressed with wheat futures ability to shrug off some selling yesterday and close out the day higher. After the big move higher last Friday and to follow it up with a higher close yesterday, it feels like September Kansas City wheat could push toward contracts high now. Wheat should be a follower of corn and soybeans unless we get some new developments in the Black Sea.
