August 25, 2026
At this hour:
🌽Corn market is down 0-1c,
🌱soybeans are down 4-5c,
🍞wheat is down 10-11,
🛢️crude oil is down $2.72-$2.73,
💲US Dollar is down 2 points
-Weekly crop conditions saw corn drop 3% out of the “good/excellent” category while soybeans dropped 1% out of the “good/excellent” category.
-U.S. corn crop is rated 57% “good/excellent” while soybeans are rated 60% “good/excellent.”
-Weekly export inspections saw corn inspections come in below trade estimates while wheat and soybeans were at the upper range of estimates.
-Russia and Ukraine are working on a diplomatic path to ease the tensions in the Black Sea region.
🐂🐻 Look for a mixed to lower trade here for Tuesday.
Support/Resistance:
September corn – Support on September corn is at $4.71 which is the 10-day moving average. Resistance is at $4.98 3/4 which is the high from August 24th.
December corn – Support comes in at $4.95 1/4 which is the 10-day moving average. Resistance comes in at $5.24 1/4 which is the high from August 24th.
September soybeans – Support comes in at $12.00 1/2 which is the 10-day moving average. Resistance is at $12.43 which is the high from July 24th.
November soybeans – Support is at $12.14 1/2 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 $7.29 3/4 which is the 20-day moving average. Resistance comes in at $7.77 1/2 which is the high from July 24th.
Where do we go from Here:
December corn gapped higher on Sunday night and proceeded to put in a new contract high before pulling back and closing about 7c off their highs. We still have a fap on the December corn chart between $5.09 and $5.10 1/4 we need to be mindful of. The corn market just feels heavy and overbought in here and is struggling to rally or hold rallies on friendly news. Crop conditions score out yesterday saw a 3% decline in corn ratings and corn is currently a penny lower. This kind of action suggests to me we could see a pullback with December futures maybe testing the $5.00 level. In the big picture, fundamentals are still friendly to corn prices, but a short-term correction would be healthy for the market.
Soybean prices were drug down by lower soybean oil futures. Last Friday the EPA announced it would extend the September 1 biofuel blending compliance for oil refiners. Combine this news with Pro Farmer out with a higher soybean yield and favorable August weather, soybeans closed out the day 15+ cents lower. Soybean crop ratings did slip 1% out of the “good/excellent” category but that isn’t enough to push the soybeans higher. Soybeans are oversold and due for a correction. We could see November correct back in the $12.00 range and then consolidating a bit. In the big picture, it will boil down to the size of the U.S. soybean crop. The bigger the crop, the harder soybeans will be to rally. We still have El Nino weather pattern which can bring some dry conditions to Brazil so that will be closely watch as they get ready to start planting in September.
Russia and Ukraine are working on a diplomatic path to ease the tensions in the Black Sea region. Time will tell if they can come to an agreement, but this does look to open up the doors for both Russia and Ukraine to start pushing their grain stocks on the global market. September Kansas City wheat futures are trading below the 10-day moving average and might push their way back into the $7.00 to $7.20 area.
