January 13, 2026
At this hour:
🌽Corn market is down 2-3c,
🌱soybeans are down 6-7c,
🍞wheat is down 1-3c,
🛢️crude oil is up $0.83-$0.84,
💲US Dollar is up 9-10 points
-What a bearish shocker of a report we got from the USDA.
-Corn national yield at 186.5 bushel per acre and soybeans were left unchanged at 53.0 bushels per acre.
-Global ending stocks on corn and soybeans were also revised higher and South America is getting ready to harvest a big crop.
-Huge trading day for corn with over 1 million contracts trading.
-Corn and soybeans are following through with a lower trade here this morning but the massive selling pressure seems to have subsided.
-January soybean futures will go off the board tomorrow.
🐂🐻 Look for another lower trade today as traders continue to digest the USDA Crop Production report.
Support/Resistance:
March corn – Support on March corn is at $4.10 which is the August 12th low. Resistance is at $4.25 1/2 which is the October 14th low.
July corn – Support comes in at $4.28 1/2 which is the August 12th low. Resistance comes in at $4.41 1/2 which is the October 14th low.
March soybeans – Support comes in at $10.38 which is the low from January 2nd. Resistance is at $10.62 which is the 20-day moving average.
July soybeans – Support is at $10.64 3/4 which is the low from January 2nd. Resistance is at $10.86 which is the 20-day moving average.
March Kansas City wheat – Support is at $5.08 1/4 which is the January 2nd low. Resistance comes in at $5.36 which is the high from December 26th.
Where do we go from Here:
Well, where do we go from here? March corn futures broke through a lot of support yesterday and currently have their eyes set on the $4.10 contract low from August as potential support. We saw a massive amount of March corn contracts traded yesterday with over 525,000+ contracts just in the March contract alone. This suggests to me we saw a lot of towels getting thrown in. It was very interesting to see the USDA increase the feed/residual number by 100 million bushels when most traders were expecting that demand number to get cut. The USDA is now projecting the feed/residual number to be up a whopping 740+ million bushels from last year. We will eventually find support here on the March contract and it could be between $4.10 and $4.20. When I look back at the March contract, I look at all the support on the March contract we had between $4.30 and $4.35 and have to think we could go back and test that old support, now turned resistance before March goes off the board.
Soybean futures, I thought, held up decent yesterday in what was a negative crop report. Considering the Funds are still holding a long position in the soybean complex, for soybeans to close down 13-14 cents with corn down 20+ cents, I will take that as a win in an ugly market day. USDA left the yield alone while decreasing the export demand number by 60 million bushels. These changes were more expected than what we saw in the corn complex. We also saw the USDA raise their estimate on the Brazil soybean crop which in turn saw the Global ending stocks increase as well. March soybeans are still holding above the January 2nd low but are within a nickel of testing that low. There was a rumor China bought a few more soybeans from the US. yesterday and they have got to be getting very close to hitting their 12 MMT quota. The big question will be is will China switch over to Brazil and start buying soybeans again or will China continue to buy a few from the U.S.?
Winter wheat seeding come in a bit bigger than what the traders were expecting. Quarterly wheat stocks saw a modest increase of 39 million bushels but with such a negative report on corn and soybeans, wheat was more of a follower to those complexes yesterday. Again, March Kansas City wheat just cannot seem to hold above the 100-day moving average for more than 2 days. March Kansas City wheat futures were only down 3-4 cents yesterday, but they were 18 cents off of their highs. The 20-day moving average is just below the market here this morning and I would expect that level to hold support.
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