September 25, 2026
At this hour:
🌽Corn market is down 9-10c,
🌱soybeans are down 13-14c,
🍞wheat is down 15-16c
🛢️crude oil is down $1.78,
-The meeting between President Trump and President Xi went will but no details on a trade deal.
-Turkey remains very active in coordinating a peace deal between Russia and Ukraine.
-Harvest should pick up in the eastern part of the U.S. while the western part of the U.S. look to remain very wet.
-The U.S. and Iran are looking at a potential phased agreement to reopen the Strait of Hormuz.
-December corn futures are breaking down below support at $5.26 here this morning and November soybeans are breaking below support at $13.10.
🐂🐻 Look for a lower trade to close out the week as traders were looking for more details on a trade deal between the U.S. and China.
Support/Resistance:
December corn – Support on December corn is at $5.04 which is the 50-day moving average. Resistance is at $5.31 1/2 which is the 10-day moving average.
March corn – Support comes in at $5.19 which is the 50-day moving average. Resistance comes in at $5.45 3/4 which is the 10-day moving average.
November soybeans – Support comes in at $12.92 which is the low from September 14th. Resistance is at $13.35 1/4 which is the high from September 11th.
March soybeans – Support is at $13.14 3/6 which is the low from September 14th. Resistance is at $13.56 which is the high from September 17th.
December Kansas City wheat – Support is at $7.27 which is the 100-day moving average. Resistance comes in at $7.83 1/4 which is the 10-day moving average.
Where do we go from Here:
Corn futures are breaking out to the downside here this morning. Combination of a no new details out the talks between President Trump and President Xi and a potential peace deal between Russia and Ukraine has the market defensive here this morning. Harvest activity continues to pick up steam in the eastern corn belt with the western corn belt looking to get some more rains that will likely keep them out of the fields another week. With December corn breaking down below support at $5.26 this morning, the focus could be the gap area on the December chart, and it will take a trade down to $5.09 to fill that chart. In the big picture, prices should remain well supported but in the short term, we could see a test of the $5.05-$5.10 area.
Traders were hoping China would roll back their 10% retaliatory tariff on U.S. soybeans after President Trump and President Xi met yesterday but there were no details. Both sides expressed they have a lot of common ground and the meeting went great. The tariff truce deadline was extended 2 months and is now January 10th before the new tariffs go into effect. Soybean yields across the U.S. continue to be impressive as harvest picks up in the eastern part of the U.S. If the weather continues to stay wet in the western part of the U.S. that will eventually be supportive to the market but for now, without any details on a trade deal with China and harvest picking up steam, it looks like November soybeans could be head back to test support at $12.92.
Turkey along with a few other countries are working on peace deal between Russia and Ukraine. These countries are looking to unblock the shipping in the Black Sea in this region. Talks seem to be going well but it will ultimately come down to if Russia and Ukraine want a peace deal or if they will continue to attack each other’s ports and other infrastructure. This still remains a very sensitive topic and one that needs to be monitored.
