January 22, 2026
At this hour:
🌽Corn market is up 1-2c,
🌱soybeans are up 1-2c,
🍞wheat is up 1-2c,
🛢️crude oil is down $0.70-$0.71,
💲US Dollar is down 6-7 points
-Year around E-15 is getting some attention again in Congress.
-A couple corn flash export sales announced yesterday. 150,000 mt to Colombia and 195,000 mt to unknown destinations.
-President Trump is traveling to Iowa next week. This is spurring optimism over a 45Z program getting announced soon.
-President Trump said they have a framework of a deal for the U.S. to acquire Greenland and that the EU tariffs will not go in effect February 1st.
-Argentina is still dry causing some crop problems.
🐂🐻 Look for a quiet but higher trade today.
Support/Resistance:
March corn – Support on March corn is at $4.10 which is the August 12th low. Resistance is at $4.25 1/2 which is the October 14th low.
July corn – Support comes in at $4.28 1/2 which is the August 12th low. Resistance comes in at $4.41 1/2 which is the October 14th low.
March soybeans – Support comes in at $10.38 which is the low from January 2nd. Resistance is at $10.68 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 which is the 200-day moving average.
March Kansas City wheat – Support is at $5.08 1/4 which is the January 2nd low. Resistance comes in at $5.36 which is the high from December 26th.
Where do we go from Here:
March corn futures are very quiet here this morning. So far in the overnight trade and this morning, March corn has had a 1 3/4 cent trading range. We saw March corn future poke above $4.25 1/2 resistance for a little bit yesterday but could not hold the rally. I suspicion we saw a little farmer selling once above $4.25 but it also felt more of an unwinding of the long corn and short soybean trade too. Weekly export sales will be out tomorrow due to the MLK holiday this past Monday. I still look for March corn to trade between $4.15 and $4.35.
Soybean market is following up yesterday’s 11 1/2 cent rally with a 1-2 cent higher trade this morning. March futures at $10.70 seems to be giving us some resistance as we saw an uptick in farmer selling yesterday. President Trump will be in Iowa next Tuesday which is giving the market some optimism that we will get the details on the 45Z program. With the lack of bullish news in the soybean complex, getting the details laid out on the 45Z program will definitely be helpful. Argentina is having a few weather issues putting some early stress on their crop which is also lending some support to the soybean complex. I look for soybeans to trade between $10.35 and $10.70.
Wheat continues to be a follower. March Kansas City wheat continues to work itself into a wedge formation in which we should see a breakout in either direction pretty soon. The U.S. Dollar is trending lower, giving wheat a little support as we are it is making U.S. wheat a bit more competitive. I look for March Kansas City wheat to trade between $5.06 and $5.36 here in the near term.
The post AgMarket.Net Early Morning Market Analysis 1/22/26 appeared first on AgMarket.Net®.
