February 25, 2026
At this hour:
🌽Corn market is up 1-2c,
🌱soybeans are up 3-4c,
🍞wheat is down 2-3c,
🛢️crude oil is up $0.28-$0.30,
💲US Dollar is up 8 points
-It is the Commodity Classic kickoff today. If you are attending Commodity Classic, stop by booth #3363 and say “Hi” as I will be down in San Antonio all week.
-Rumors of China looking for soybean offers from the U.S. pushed the beans higher yesterday and spilled over into the overnight trade but there is no confirmation yet.
-The RVO proposal is said to be sent over to the OMB. This is usually the last step before an announcement so could we get an announcement shortly.
-Soybean harvest ins Brazil is right in line with last year’s pace but a little behind the 5-year average.
-Firss Notice day for March grain contracts is Friday February 27th.
🐂🐻 Look for a mixed 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 $11.35 which is the 10-day moving average. Resistance is at $11.48 1/4 which is the high from February 20th.
July soybeans – Support is at $11.66 3/4 which is the 10-day moving average. Resistance is at $11.75 which is the high from February 20th.
March Kansas City wheat – Support is at $5.46 which is the 200-day moving average. Resistance comes in at $5.78 1/2 which is the high from February 20th.
Where do we go from Here:
March corn continues to trade in very small 3-6 cent trading ranges here this week. Traders have been busy this week getting their March contracts rolled out to either May or July futures. This has caused some of the spreads to act a little goofy this week. Ethanol crush margins are good this time of year when typically, they are not. Add that onto the strong export sales book the U.S. has on and that provides us good support for the corn market. It looks and feels like corn could continue to grind in here until we get to the March 31st Perspective Planting and Quarterly Grain Stocks report.
The rumor mill was in high gear yesterday. Talks of China looking for some soybean offers out of the U.S. pushed soybean prices higher yesterday and spilled over into the overnight session. So far, there has been no confirmation of China looking to buy some beans from the U.S. Currently, Brazil is said to be about $1.00 per bushel cheaper than the U.S. The Funds have built a pretty good sized long position, and it still feels like they want to add so that should keep soybean prices supported. Not much news out of South America as harvest pushes along. November soybeans are pushing up close to the highs we had this past November. This could be a great area to get some new crop soybean protection in place.
March Kansas City wheat is pushing lower here this morning and breaking through support at the 10-day moving average. After a strong week of buying by the Funds last week, so far this week we have been lower all 3 days. Key support I am watching is the 200-day moving average at $5.46. If we trade down below $5.46, we could head down to bigger support at $5.29.
