February 27, 2026
At this hour:
🌽Corn market is up 1-2c,
🌱soybeans are up 2-4c,
🍞wheat is up 6-7c,
🛢️crude oil is up 1.30,
-First Notice Day on March Futures
-Last day for Feb crop insurance average. Going to be around $4.61/$11.07
-Soybeans failed to close above previous highs but did claw there way back to close to even.
– Export sales were consistently on the low side of trade expectations across the board
with corn & wheat significantly below trade expectations.
-It has been 2,604 days since Michigan has beat Illinois in basketball (sorry I had to! ILL)
Support/Resistance:
March corn – Support on March corn is at $4.17 3/4 which is the January 13th low. Resistance is at $4.36 1/4 which is the low from January 5th.
July corn – Support comes in at $4.33 1/2 which is the January 16th low. Resistance comes in at $4.54 ½ which is the 200 day moving average
Mar soybeans – Support comes in at $11.37 which is the 10-day moving average. Resistance is at $11.58 which is the high from November 19th.
July soybeans – Support is at $11.66 3/4 which is the 10-day moving average. Resistance is at $11.81 ¾ which we traded to on Nov 18th – also calendar year high.
Where do we go from Here:
Final day for feb averaging in crop insurance. Corn is going to come in around $4.61 vs
$4.70 last year. Soybeans are going to be around $11.07 vs $10.54 last year. A lot of
folks will have new decisions to make when it comes to crop insurance decisions with
new subsidies on ECO/SCO. If you have any questions please give our crop insurance
dept a call or shoot us an email.
Soybeans had a 30c trading range yesterday and briefly eclipsed the calendar year high
before ultimately closing lower. News came out that Trumps meeting with Xi in a few
weeks had stalled and added some uncertainty between US & China relations. While we didn’t make new highs soybeans did work closer to even toward the end of the day.
At Commodity Classic Secretary Rollins announced One Farmer, One File – aiming to roll out a more streamlined and digital experience in how farmers interact with the USDA.
Drought conditions for corn/soybean/winter wheat areas have been steadily ticking up
but are a ways away from being concerning: 41% of corn area is experiencing drought
vs a 5 year average of 36% | soybeans show 44% vs 5 year average of 29% | Winter
Wheat as 50% of the area experiencing drought vs a 39% average. 81% of the state of
Illinois is experiencing a moderate drought currently – last year that number was 38%.
July Chi Wheat is approaching the $6.00 psychological level as well as the gap in the chart at $6.15.
Everyone have a great weekend!
