September 16, 2026
At this hour:
🌽Corn market is up .5c,
🌱soybeans are up 10c,
🍞wheat is up 1-2,
🛢️crude oil is down 1.90-2.00,
-Crude oil made new highs yesterday climbing past $105/barrel
-Fed Rate Decision today – 92% chance we see a rate hike.
-Soybeans looking to make new highs today
🐂🐻 Look for a mixed trade today.
Support/Resistance:
December corn – Support on December corn is at $5.26 3/4 which is the 20-day moving average. Resistance is at $5.49 3/4 which is the high from September 2nd.
March corn – Support comes in at $5.41 3/4 which is the 20-day moving average. Resistance comes in at $5.64 which is the high from September 2nd.
November soybeans – Support comes in at $12.80 3/4 which is the 20-day moving average. Resistance is at $13.33 1/2 which is the high from September 10th.
March soybeans – Support is at $13.01 1/2 which is the 20-day moving average. Resistance is at $13.54 which is the high from September 10th.
December Kansas City wheat – Support is at $7.82 which is the low from September 14th. Resistance comes in at $8.58 1/4 which is the high from September 2nd.
Where do we go from Here:
Positive trade this morning with soybeans leading the way. We rallied sharply higher yesterday on better than expected crush data as well as potential US-China tariff cuts. Corn continues to chop around and to look for some fresh news now that we’re a few days removed from the USDA report. Right now it feels like the biggest threat/opportunities are going to come from political headlines. Take your pick which one between Russia/Ukraine, Iran or China. Reminder that Chinese President XI and President Trump are set to meet next Friday September 24th.
As harvest ramps up we continue to hear early yield numbers. A lot of flooding/rain delay in Iowa & northern Illinois. Central Illinois has seen a good start to corn harvest and just getting started on cutting soybeans. Overall theme is corn yields are good not great with wet spots dragging yield down and moisture coming in dryer than expected. Soybean yields I’ve heard so far have been very good. I imagine risk management conversations are going to be very different depending on what part of the country you’re in.