September 23, 2026
At this hour:
🌽Corn market is down 7-8c,
🌱soybeans are down 8-9c,
🍞wheat is down 9-10c
🛢️crude oil is down $85c,
-Market seeing stalling/pullback after Mondays rally
-Trump/Xi meeting tommorrow – may see some headlines today
-parts of corn belt continues to see flooding/little to no harvest progress.
🐂🐻 Look for a lower trade.
Support/Resistance:
December corn – Support on December corn is at $5.25 which is the Monday low. Resistance is at $5.49 3/4 which is the high from September 2nd.
March corn – Support comes in at $5.40 1/2 which is the Monday low. Resistance comes in at $5.64 which is the high from September 2nd.
November soybeans – Support comes in at $13.03 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 $13.30 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 $7.26 which is the 100 day moving average. Resistance comes in at $8.08 ‘2 which is the 20 day moving average.
Where do we go from Here:
Markets are pulling back this morning on lack of fresh news but that could change quickly with Trumps/Xi meeting ramping up today/tomorrow. I still maintain that this is the main market mover this week and the next. There going to cover a range of topics but trade will be looking for confirmation that China will continue to honor there 25 mmt soybean purchase committment as well as any clarity on the 17B additional purchases. If we don’t see that I would look for a pullback going into harvest if everything else remains constant.
While harvest is progressing nicely for some areas a lot of areas continue to see rain/flooding. Iowa which has consistently been the leader in crop conditions has been substantially wet at a time when i’m sure alot of guys want to be cutting soybeans. We’re too early to get bullish on any harvest delays but carryout is tight enough already that any hiccup or reduction in crop conditions is going to effect the market.
Brazil is just getting going on soybean planting but we’ll be talking more and more of how that crop is progressing. long term weather forecasts call for drier conditions.