February 26, 2026
At this hour:
🌽Corn market is up 1-2c,
🌱soybeans are up 2-4c,
🍞wheat is up 1-2c,
🛢️crude oil is down $1,
-Make sure to stop by the AgMarket booth at Commodity Classic and say hi to the team!
-CME halted trading in all metals and natural gas yesterday citing technical issues. Both were halted around 12:15 with Nat gas opening back up around 12:50 and metals at 1:45 CST.
-U.S. ethanol production came in over 1.11M barrels per day for the prior week – topping the 5 year average for the week
-Soybeans made highs for 2026 – briefly made calendar year highs overnight that were previously set back in November.
-First Notice day for March grain contracts is tomorrow – Friday February 27th.
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.
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:
Its decision time for soybeans – May soybeans highest close came back in November 17th at $11.70 – we traded above that overnight and currently around 11.68. Nov 26 traded to new highs overnight as well crossing over 11.30 – currently at 11.28. a close today/Friday at new highs for soybeans could get things exciting. Between tariff talk this past week and state of the union address there’s been very little talk of China which bodes well for soybeans but I still feel we’ve got a significant headline risk in soybeans. Soybean oil made new highs for year yesterday and is up 25% on the year.
Corn continues to trade in about a 5c range going into first notice day. Historically you can look for a little excitement going into March option expiration and 1st notice day but that hasn’t been the case so far. Corn is perfectly happy staying in its trading range until we get a catalyst which more and more looks like it could be the planting intentions at the end of March. After the Wasde on Jan 12 – May corn has been in roughly a 15c trading range all year. Dec corn is the same story but we did make a new high close for 2026 – just a shade under $4.67 and we’re currently trading at $4.68. $4.70 is a target for a lot of people – it was the February crop insurance average for 2025 as well as the high water mark for the rest of the year. Friday is last trading day in February, first notice day for March futures, and we’ll get the final average price for crop insurance.
