November 10, 2026
At this hour:
🌽Corn market is up 2-3c,
🌱soybeans are up 6-7c,
🍞wheat is up 3-4c
🛢️crude oil is down $1.10,
-USDA will release their November WASDE report here at 11:00 AM CST.
-Trade estimates are looking for a corn yield of 180.4 bushels per acre on corn and 53.5 bushels per acre on soybeans.
-Brazil is off to a great start on their soybean planting with 64% of the crop already planted and under good conditions.
-U.S. corn harvest advanced to 81% complete vs 86% complete on the 5-year average.
-Corn and soybean export inspections were within trade estimates.
-WTI crude oil is testing support at the 100-day moving average here this morning.
Support/Resistance:
December corn – Support on December corn is at $4.25 3/4 which is the contract low. Resistance is at $4.44 3/4 which is the 10-day moving average.
March corn – Support comes in at $4.41 which is the contract low. Resistance comes in at $4.58 1/4 which is the 10-day moving average.
January soybeans – Support comes in at $11.84 1/4 which is the low from August 11th. Resistance is at $12.05 which is the 200-day moving average.
March soybeans – Support is at $11.88 3/4 which is the low from August 11th. Resistance is at $12.07 1/2 which is the 200-day moving average.
December Kansas City wheat – Support is at $6.26 which is the low from June 30th. Resistance comes in at $6.38 1/2 which is the 10-day moving average.
Where do we go from Here:
All eyes will be on the USDA report and what they do with the WASDE report. Traders are looking for a 0.8 bushel be acre reduction on national corn yield. I find it interesting that all the private analyst that were surveyed for the average trade estimates all increased their corn yield from the October report to the November, yet we are looking for the USDA to lower their yield this month. The yield debate will continue to be a hot topic for the next several months. On the demand side of the WASDE report, I don’t look for the USDA to make any changes this month but if the corn export sales don’t pick up soon, we could see some demand reductions in futures WASDE reports. Corn futures continue to stabilize, building a good near term low.
On to the soybeans, traders are looking for the USDA to increase their national soybean yield by 0.4 bushels per acre. Trade estimates are looking for the soybean yield to come in at 53.5 bushels per acre, which would be a record soybean yield. I feel that even if the USDA would give us a higher soybean yield than 53.5 bushels per acre, not too many traders would be surprised. Demand for soybeans remains very good and our export sale pace continues to run ahead of what we need to be at for the year. So, don’t look for the USDA to make any demand adjustments and the only adjustments they will make will be based off what they do with the national soybean yield.
December Kansas City wheat continues to test support at $6.26 and continues to hold. Traders are not looking for many changes in the WASDE report today on wheat. Peace talks between Russia and Ukraine were supposed to begin yesterday but there has been very little mentioned. Look for wheat to get its direction from the corn market today.
