September 14, 2026
At this hour:
🌽Corn market is down 0-1c,
🌱soybeans are up 0-1c,
🍞wheat is down 0-1,
🛢️crude oil is up $2.53-$2.54,
💲US Dollar is up 45 points
-WTI crude oil is starting out the week 2.5-3% higher.
-Managed money (the Funds) are now holding a record net long position in soybeans. Duns are long a little over 266,000 contracts of soybeans.
-U.S. weather across much of the Midwest looks to be very wet the next 7-10 days, slowing up harvest.
-President Trump has asked President Zelensky to halt striking Russia’s oil refineries as that is contributing to the high diesel prices in World.
-Harvest reports continue to come in with a general feel that yields are a bit disappointing. USDA last Friday lowered corn yield to 178.5 bushels per acre and raised the soybeans yield to 52.8 bushels per acre.
🐂🐻 Look for a choppy/mixed trade to start off the week.
Support/Resistance:
December corn – Support on December corn is at $5.26 1/2 which is the low from September 3rd. Resistance is at $5.49 3/4 which is the high from September 2nd.
March corn – Support comes in at $5.41 3/4 which is the low from September 3rd. Resistance comes in at $5.64 which is the high from September 2nd.
November soybeans – Support comes in at $12.76 1/4 which is the 20-day moving average. Resistance is at $13.33 1/2 which is the high from September 10th.
March soybeans – Support is at $12.96 3/4 which is the 20-day moving average. Resistance is at $13.54 which is the high from September 10th.
December Kansas City wheat – Support is at $7.92 1/4 which is the high from July 24th. Resistance comes in at $8.58 1/4 which is the high from September 2nd.
Where do we go from Here:
Corn prices are starting out the week a bit choppy. Last Friday the USDA did lower their national corn yield down to 178.5 which was right in line with the trade estimates. We also saw the USDA trim their demand estimate by 150 million bushels by lowering the feed/residual number. The bottom line is we are still dealing with tight stocks here in the U.S. and the World ending stocks are also getting smaller. Corn harvest will slow down a bit here this week and a big system moves across the Midwest, bring some potential big rains to parts of Iowa and Illinois. The Funds are holding a near record long position for corn. Harvest progress is steady and could keep a lid on prices here in the short term, but I feel in the big picture, we have not rationed any demand yet so if the corn yield continues to drift lower, we could see higher prices post-harvest.
Managed money (the Funds) is now holding a new record long position in the soybean complex. China was very active buyer of U.S. soybeans last week and looks to continue buying more this week. Last Friday the USDA did increase their soybean yield by 0.1 bushels per acre leaving the U.S with ending stocks at 310 million bushels. Now, this is a comfortable supply of soybean ending stocks, but what happens if China would buy more beans from the U.S.? Or what would happen is South America has a little weather issue to cause them to have a smaller crop this year? These are questions that will keep volatility high in the soybean market this winter. With the Funds at record long and harvest upon us, prices could consolidate here for a bit but keep a close eye on the weather in South America and also, keep a close eye on the meeting between President Trump and President Xi on September 24th.
The fighting between Russia and Ukraine continues. More strikes between the 2 over the weekend were carried out. President Trump has asked President Zelensky to halt targeting Russia’s oil refineries as the supply of diesel is tight and pushing prices to record high levels. The chances of the Black Sea re-opening anytime soon do not look good. Wheat prices will continue to be supported and follow corn and soybeans.
