January 9, 2026
At this hour:
🌽Corn market is down 0-1c,
🌱soybeans are up 4-5c,
🍞wheat is down 2-3c,
🛢️crude oil is up $0.43-$0.44,
💲US Dollar is up 10-11 points
-Flash sale of 132,000 metric tons of soybeans to China was announced yesterday. There could me more announcements this morning.
-Corn and soybeans failed to hold their strength yesterday as traders position themselves ahead of the January 12th Crop Report.
-March corn continues to hold above the 200-day moving average while soybeans slipped back below their 200-day moving average.
-Weekly export sales yesterday saw corn at a marketing year low and soybean sales within expectations.
🐂🐻 Look for a choppy/mixed trade here today.
Support/Resistance:
March corn – Support on March corn is at $4.40 2/4 which is the 100-day moving average. Resistance is at $4.53 which is the December 26th high.
July corn – Support comes in at $4.55 which is the 100-day moving average. Resistance comes in at $4.60 which is the 200-day moving average.
March soybeans – Support comes in at $10.38 which is the low from January 2nd. Resistance is at $10.67 1/4 which is the 200-day moving average.
July soybeans – Support is at $10.64 3/4 which is the low from January 2nd. Resistance is at $10.90 1/4 which is the 20-day moving average.
March Kansas City wheat – Support is at $5.03 which is the December 17th low. Resistance comes in at $5.36 which is the high from December 26th.
Where do we go from Here:
Not much new for the corn market. Weekly export sales were out yesterday and at a marketing year low. Normally this news would be a concern but the pace of export sales we have been on since Sept. 1 was going to be hard to keep up and we were due to have a slow week. Add in the Christmas and New Years holiday too and it makes a lot of sense we had an off week. March corn futures are simply marking time waiting to see what the USDA will give us on Monday January 12th. In the big picture, if we get some bearish numbers from the USDA on Monday, I expect corn futures to find support on a break of 10+ cents. World ending stocks are still the tightest we have had since 2013.
Weekly export sales on soybeans were within trade expectations. China bought another 132,000 metric tons of soybeans from the U.S. and are now estimated to have purchased close to 10.5 MMT of the 12 MMT they are expected to buy. Weather continues to be a nonevent in South America as Brazil looks to start to ramp up soybean harvest. The trade is looking for the USDA to increase the Brazilian soybean crop by 1.8 MMT to a record of 176.8 MMT, up from 171.5 MMT last year. Soybeans failed to hold their strength going into the close yesterday but are getting most of that back this morning. I don’t expect soybeans to do much today to close out the week, and traders will wait to see what the USDA gives us on Monday to make their next move.
Kansas City wheat futures continue to be very range bound. March futures traded above the $5.30 level but found resistance and are now back trading below $5.30. Weekly export sales on wheat were a bit disappointing but, on the year, wheat sales are running ahead of the pace needed to achieve USDA’s projection. Look for a quiet trade for wheat here today heading into the weekend and the January 12th USDA Crop Production report.
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