February 12, 2026
At this hour:
🌽Corn market is up 0-1c,
🌱soybeans are up 12-13c,
🍞wheat is up 3-4c,
🛢️crude oil is down $0.21-$0.22,
💲US Dollar is up 2 points
-President Trump and President Xi are talking about rolling back the tariffs for 1 year.
-Flash sale of 230,560 metric tons of corn to unknown destinations was announced yesterday morning.
-EIA report yesterday saw a nice rebound in ethanol crush at 1.11 million barrels.
-CONAB will release their estimate of the Brazil corn and soybean production today.
-Weekly export sales will be out this morning. Here are the estimates courtesy of Reuters: corn 600,000-1,600,000 metric tons, soybeans 300,000-1,200,000 metric tons, wheat 200,000-575,000 metric tons and soybean meal 200,000-450,000 metric tons.
🐂🐻 Look for a higher trade today.
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 $4.50 3/4 which is the low from January 5th.
March soybeans – Support comes in at $10.78 1/2 which is the 50-day moving average. Resistance is at $11.37 3/4 which is the high from February 6th.
July soybeans – Support is at $11.02 which is the 50-day moving average. Resistance is at $11.59 1/4 which is the high from February 6th.
March Kansas City wheat – Support is at $5.26 1/2 which is the 100-day moving average. Resistance comes in at $5.47 1/4 which is the 200-day moving average.
Where do we go from Here:
The corn market struggled a bit yesterday. There was a flash export sale announced of 230,560 metric tons of corn sold to unknown destination and the weekly ethanol production rebounded back to 1.11 million barrels last week. However, March corn futures spent most of the day trading lower. On the close we saw a 20,000-contract order hit the market and pushed March corn down 1 1/2c on the day. Weekly export sales out this morning should confirm export demand for U.S. corn remains very strong. I look for March corn to continue to consolidate and trade between $4.20 and $4.35.
President Trump and President Xi and talking about rolling back the tariffs for 1 year. Last week the 2 spoke and President Trump said China is considering buying more soybeans from the U.S. so could this be what helps prompt those sales? The Funds seem to be content on adding to their long position and are estimated to be long around 130,000 contracts. In the overnight session, March soybeans took out last week’s high before pulling back a few cents but still remain strong. A close above $11.37 would be friendly to the March soybean futures.
Winterkill in Russia has the wheat market pushing a bit higher again here this morning. March Kansas City wheat has had an impressive, orderly uptrend since the middle of December. They are approaching major resistance at the 200-day moving average. A close above the 200-day moving average should bring in some new buying. Look for March Kansas City wheat to test major resistance at $5.47.
