September 1, 2026
At this hour:
🌽Corn market is up 0-1c,
🌱soybeans are up 11-12c,
🍞wheat is up 7-8,
🛢️crude oil is up $2.24-$2.25,
💲US Dollar is up 17 points
-EPA granted full exemptions to 18 refineries and partial exemptions to 11 refineries to cover 1.76 billion renewable fuel credits (RINS). Those credits will be reallocated to the larger refineries.
-Weekly crop ratings saw corn unchanged and soybean ratings dropped 2% out of the “good/excellent” category.
-Weekly corn export inspections yesterday were huge.
-November soybean futures have pushed above $13.00 on this move.
-Turkey is trying to work on a peace deal between Russia and Ukraine.
🐂🐻 Look for a mixed to higher trade for Tuesday.
Support/Resistance:
December corn – Support on December corn is at $5.23 which is the 10-day moving average. Resistance is at $5.42 which is the high from August 31st.
March corn – Support comes in at $5.38 which is the 10-day moving average. Resistance comes in at $5.56 3/4 which is the high from August 31st.
November soybeans – Support comes in at $12.58 1/2 which is the 10-day moving average. Resistance is at $12.94 1/2 which is the high from August 31st.
March soybeans – Support is at $12.78 1/2 which is the 10-day moving average. Resistance is at $13.13 1/2 which is the high from August 31st.
December Kansas City wheat – Support is at $8.02 which is the 10-day moving average. Resistance comes in at $8.52 which is the high from August 28th.
Where do we go from Here:
Corn is acting as a follower here today. Crop ratings out yesterday saw conditions unchanged from last week and are rated 57% “good/excellent.” Weekly export inspections saw a huge week of corn inspections, beating estimates. December corn seems to be having a little trouble clearing this $5.40 area. They keep making a new high each day, but the settlements are in the $5.37 area. Harvest is pushing northward and the 2-week forecast looks warm for much of the U.S. With the Funds net long around 400,000 contracts of corn, the corn market feels like they could consolidate here a bit and wait for more yield results. This is still a market that will see good support on breaks.
The EPA granted small refineries exemptions (SRE) totaling 1.76 billion renewable fuel credits. They will reallocate those credits to the larger refineries, helping ensure biofuel demand. This is supportive to soybean oil and soybeans. November soybeans are trading above $13.00 on this news and helps keep the soy complex supported. Harvest is just around the corner with the Delta picking up steam. The market is looking for soybean yield to be pretty strong, and many feel we could see the USDA increase their soybean yield estimate in the September report. The trend is still up and just like corn, breaks will be well supported.
Turkey is working on a deal to ensure safe passage through the Black Sea and has reached out to both Russia and Ukraine. So far, there is no deal in place. Russia and Ukraine continue to carryout air strikes against each other as tensions remain elevated. There does not look to be any peace deal between Russia and Ukraine in the near future, so the grain stuck in the Black Sea region remains locked up.
