November 13, 2026
At this hour:
🌽Corn market is up 4-5c,
🌱soybeans are up 15-16c,
🍞wheat is up 7-8c
🛢️crude oil is down $0.49,
-China is urging the U.S. to cut back their tariffs and that could lead to China buying more agricultural goods and products.
-China bought another 136,000 mt of soybeans yesterday.
-U.S. Dollar is trading at its highest level since April 11, 2025.
-South America continues to be competitive on the World corn market.
-Weekly export sales will be released this morning at 7:30AM CST. Here are the estimates courtesy of Reuters: corn 2,600,000-3,800,000 metric tons, soybeans 850,000-2,000,000 metric tons, wheat 250,000-650,000 metric tons and soybean meal 250,000-450,000 metric tons.
Support/Resistance:
December corn – Support on December corn is at $4.38 1/4 which is the low from November 6th. Resistance is at $4.50 1/4 which is the 20-day moving average.
March corn – Support comes in at $4.51 which is the low from November 9th. Resistance comes in at $4.63 3/4 which is the 20-day moving average.
January soybeans – Support comes in at $12.11 1/2 which is the 10-day moving average. Resistance is at $12.32 which is the 20-day moving average.
March soybeans – Support is at $12.18 1/2 which is the 10-day moving average. Resistance is at $12.40 which is the 20-day moving average.
December Kansas City wheat – Support is at $6.26 which is the low from June 30th. Resistance comes in at $6.34 1/4 which is the 10-day moving average.
Where do we go from Here:
December corn futures continue to chop around the 10-day moving average. It was reported yesterday that Japan bought some corn out of South America because they were cheaper on corn on the World market. The U.S. Dollar pushed above 103 and is making the U.S. even more uncompetitive. Now we are hearing China is urging the U.S. to roll back their tariffs early and that could allow China to start buying more U.S. Ag products. Weekly exports are expected to be big this week, but 1 strong week will not dig us out of the hole we are in. We will need to see consistent corn exports all the way through the marketing year. I look for December corn to continue to chop around the 10-day moving average.
Soybeans are gaining back all they lost yesterday and then some. January soybeans are trading above the 20-day moving average for the first time since October 7th. A close above the 20-day moving average could see the January soybeans push up towards the 100-day moving average which comes in around $12.53 1/2. China urging the U.S. to roll back some of their tariffs and that move could allow China to start buying more ag products from the U.S. has the traders thinking we could be in the market to sell more soybeans to China. I look for soybeans to continue to be well supported.
There still is no trade deal between Russia and Ukraine and that has the wheat market supported today. There are talks suggesting there will be very little if any grain exports out of the Black Sea region until this spring. This should help push some demand to the U.S., but we need to be competitive. Today, with the U.S. Dollar trading over 103, that will keep a lid on U.S. wheat prices.
