March 26, 2026
At this hour:
Corn market is up 0-1c,
soybeans are up 0-1c,
wheat is down 0-1c,
crude oil is up $3.00-$3.01,
US Dollar is up 8 points
-President Trump is scheduled to meet President Xi in China on May 14th and 15th.
-Later in the year, President Xi will come to Washington DC for another face-to-face meeting.
-The EPA has issued a nationwide summer waiver to sell E15 and E10 gasolines, boosting production to help lower gas prices.
-Crude oil prices are back up as Iran is not willing to agree to the U.S. terms on a deal, so the conflict continues.
-Weekly export sales will be out this morning. Here are the estimates courtesy of Reuters: corn 700,000-1,600,000 metric tons, soybeans 200,000-600,000 metric tons, soybean meal 100,000-600,000 metric tons and wheat 150,000-400,000 metric tons.
Look for another mixed trade today.
Support/Resistance:
May corn – Support on May corn is at $4.58 which is the 20-day moving average. Resistance is at $4.76 which is the high from March 9th.
December corn – Support comes in at $4.83 3/4 which is the 20-day moving average. Resistance comes in at $4.98 1/2 which is the high from March 9th.
May soybeans – Support comes in at $11.38 1/2 which is the 50-day moving average. Resistance is at $12.38 3/4 which is the high from March 12th.
November soybeans – Support is at $11.14 1/4 which is the 500-day moving average. Resistance is at $11.74 1/4 which is the high from March 12th.
May Kansas City wheat – Support is at $6.06 1/2 which is the 20-day moving average. Resistance comes in at $6.47 1/2 which is the high from March 9th.
Where do we go from Here:
Corn prices ended the day on a strong note. The EPA has granted a nationwide summer waiver to sell E15 and E10 blended gasolines to boost production and help lower prices. This will have a positive impact, but the ethanol industry is already running close to max capacity. This helped pull corn back to the positive side of the trade and once we get the Funds back in buying, it is hard to break the market. We continue to trade in a $4.55 to $4.75 range as we wait for the updated numbers from the USDA next Tuesday.
News broke yesterday that President Trump and President Xi have set a hard date to meet face-to-face in China on May 14th and 15th. This news shows that the U.S./China relationship is still pretty good. President Xi is said to be coming to Washington DC later in the year as well. This shot soybeans up 19-20c on the news before pulling back a little going into the close. Soybeans are still struggling to gain back much of what they last about 10 days ago as the fundamentals still remain heavy and the Funds already carrying a record long position in the entire soy complex. Crude oil is up $2-3 this morning, spilling over into the soybean oil market and that seems to be what is keeping soybeans higher. I look for a choppy/mixed trade today.
Just when the wheat looked like it was going to roll over, they push back above resistance and look good again. The warm/dry conditions look to persist in the southern wheat plains, and the crop is starting to deteriorate. Funds are believed to have a small, long position so if conditions do not improve soon, we could see more support in the wheat market via the Funds building a long position.
The post AgMarket.Net Early Morning Market Analysis 3/26/26 appeared first on AgMarket.Net®.
