September 22, 2026
At this hour:
🌽Corn market is down 5.5c,
🌱soybeans are down 8-9c,
🍞wheat is down 9-10c
🛢️crude oil is down $2.50,
-Harvest progress ahead of 5 year average
-export inspections were above expectations on corn/soybeans
-corn rallied up to previous highs; currently lower this morning
🐂🐻 Look for a steady to lower trade.
Support/Resistance:
December corn – Support on December corn is at $5.34 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 $5.47 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 $13.03 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 $13.26 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 $7.69 which is the 50 day moving average. Resistance comes in at $8.06 which is the 20 day moving average.
Where do we go from Here:
So far the market has liked the rhetoric we’ve heard about US meeting with China. Regarding agriculture – preliminary discussions have been about lowering tariffs and seeing follow through with ag purchases. The agreement was 25 mmt of soybeans purchased in 2026 which we’re around halfway there and $17 bln additional ag purchases not including soybeans. We can talk alot about different news/market movers this week but in my opinion this is the one that matters this week. Look for continued updates leading up to talks Thursday.
Crop progress progress nicely this week with corn at 13% harvested and soybeans at 12% harvested. Both are slightly above the 5 year average for this week and made around a 5-6% jump from last week. Outside of areas that have seen major rainfall I would imagine we can continue this pace for next week as well – my area will see a big jump in soybean harvest weather permitting.
Crop conditions remained unchanged on the week holding steady at 57% on corn and 58% on soybeans. Soybeans is right at the 5 year average where corn is slightly below the 5 year average.
Exports for corn and beans were strong this week. Export inspections showed corn exports at 1.9 MMT which topped trade expectations and is a record for this week – up a whopping 40% vs last year this week. Soybeans topped trade expectations as well at 759k mt which is 34% better than this week a year ago. Wheat exports were in line with trade expectations but on the lower end of the range at 335K MT.