March 27, 2026
At this hour:
🌽Corn market is up 2-3c,
🌱soybeans are up 3-4c,
🍞wheat is up 4-5c,
🛢️crude oil is up $1.65-$1.66,
💲US Dollar is up 11 points
-The White House is hosting a “Celebration of Agriculture” even today with a focus on biofuels.
-President Trump is pausing the destruction of energy plants by 10 days in Iran as talks between the 2 countries are making progress.
-Weekly export sales were really strong for soybeans yesterday but a slight dip on the corn.
-Much needed rain across the driest parts of the U.S. are in the forecast. This should set the U.S. up for an early and great planting season.
-Crude oil is back trading in the upper 90’s per barrel.
🐂🐻 Look for a higher trade to end this 4th week of March.
Support/Resistance:
May corn – Support on May corn is at $4.63 1/4 which is the 10-day moving average. Resistance is at $4.76 which is the high from March 9th.
December corn – Support comes in at $4.89 1/2 which is the 10-day moving average. Resistance comes in at $4.98 1/2 which is the high from March 9th.
May soybeans – Support comes in at $11.64 1/2 which is the 10-day moving average. Resistance is at $12.38 3/4 which is the high from March 12th.
November soybeans – Support is at $11.43 which is the 10-day moving average. Resistance is at $11.74 1/4 which is the high from March 12th.
May Kansas City wheat – Support is at $6.16 1/2 which is the 10-day moving average. Resistance comes in at $6.47 1/2 which is the high from March 9th.
Where do we go from Here:
Corn prices are starting out the day a bit stronger. Talks between the U.S. and Iran seem to be making progress. A few days this week though we have seen the corn market strong throughout the day, but we see some selling going into the close. I don’t expect corn prices to put in any new highs until we get the USDA report next week and get a bullish spin on the report. May corn futures are back trading close to $4.70 and so far, we just don’t stay above the $4.70 level for very long and I don’t look for that to change. The traders will be positioning themselves ahead of the report due out next Tuesday so I think a rally in corn today will be limited.
The White House is hosting a “Celebration of Agriculture” event today with a focus on biofuels. Will we finally get the much-anticipated RVO announcement that has been supporting soybean oil and soybean prices? After the selloff on March 16th, May soybeans have only been able to gain back about 30c cents of that selloff. The November contract has gained back a little over 40 cents of the selloff so that has been acting a bit better. We will need to see something bullish in the report out next week to keep pushing prices higher, but traders are expecting around 85.5 million soybean acres, up from 81.2 million last year and most feel the grain stocks on soybeans could be neutral. I look for a higher board today, but we could see a little selling going into the close.
Wheat prices are in a weather event. The hot and dry conditions continue to persist in the southern wheat plains with limited precipitation in the forecast. Going into weekends in a weather market always makes me a bit nervous. The forecast could change over the weekend, put in some rains and we could be down hard Sunday night. So, heading into the weekend, I would not be surprised if we see a little profit taking ahead of the weekend.
