August 21, 2026
At this hour:
🌽Corn market is down 1-2c,
🌱soybeans are down 5-6c,
🍞wheat is down 4-5,
🛢️crude oil is up $0.64-$0.65,
💲US Dollar is down 23 points
-Pro Farmer crop tour wrapped up in Iowa and Minnesota yesterday.
-Pro Farmer crop tour found the Iowa corn crop down 2.2% from last year and soybean pod counts down 1.5%. In Minnesota, Pro Farmer found the corn yield down 1.9% from last year and the soybean pod counts were above last year’s tour results.
-Corn and soybean export sales were within trade estimates yesterday.
-December corn futures continue to hold above the $5.00 mark.
-The weather in the U.S. for the next 2-weeks looks to bring seasonal temps and decent rains across much of the U.S. which will be favorable for crop development.
🐂🐻 Look for a choppy to lower trade to finish out the week.
Support/Resistance:
September corn – Support on September corn is at $4.59 1/2 which is the 10-day moving average. Resistance is at $4.92 which is the high from May 5th.
December corn – Support comes in at $4.84 which is the 10-day moving average. Resistance comes in at $5.06 1/2 which is the high from May 13th.
September soybeans – Support comes in at $11.88 1/4 which is the 10-day moving average. Resistance is at $12.43 which is the high from July 24th.
November soybeans – Support is at $12.04 1/4 which is the 10-day moving average. Resistance is at $12.56 1/2 which is the high from July 24th.
September Kansas City wheat – Support is at $7.39 which is the 10-day moving average. Resistance comes in at $7.77 1/2 which is the high from July 24th.
Where do we go from Here:
As the Pro Farmer crop tour got into eastern Iowa and Minnesota, the corn yields picked up but that was to be expected. Corn yields in Iowa and Minnesota on the crop tour were still down 2.2% and 1.9% respectively from last year though. The corn market has done a good job of pricing in the potential for the USDA to lower the national corn yield this week. As we head into next week, what bullish news will we feed the corn market? The weather looks great for the crop to stabilize and finish out. Demand still remains strong but that is already known. Geopolitical issues are still present but no major changes. So, it would not surprise me to see the corn market see a slight pullback into next week. The overall trend is still up, and I don’t think we have gotten high enough to ration demand but a correction on the chart would be healthy.
It took the Pro Farmer crop tour until its last day to find a result that was ahead of last year’s findings. Minnesota came through and produced soybean pod counts 1% ahead of last year. All other states and results on corn and soybeans on the crop tour had results all less than what the found last year. After a stronger week of trade, soybean prices are a little lower to close out the week. The overall crop size in the U. S. is still in question and if we see the USDA drop our soybean anymore, we will likely see higher prices. The weather for the next 2-weeks should help increase our soybean yield, I would expect the soybean market to pull back after a higher week of trade into next week but with a lot of unknowns out there yet, soybean prices will remain well supported.
News out of the Black Sea has been relatively quiet. I am hearing a few rumors of World wheat prices starting to increase as supplies out of the Black Sea region are very hard to get. The longer the Black Sea stays shutdown, the more favorable prices will be. Wheat is much like the corn and soybean markets in that a correction would be very healthy for the market, but the trend is still higher.
