Tidbits, Net Farm Income, Food Prices, Bartlett, Basis Bids, Ukrainian Land 9/5/26
- Wright team
- 12 minutes ago
- 5 min read
Tidbits
The market action yesterday was very disappointing, especially in wheat and corn, after the beating those two commodities took the previous two days. But, as our client Jeff pointed out, yesterday’s lows were above Thursday’s lows in the corn, beans, and both winter wheats. That is technically significant. Wheat sits 10¢ above the support level from the July peak.
The 14 day Relative Strength Index as of the close yesterday:
Dec Corn: 70.06, the high for the week was 79.43
Nov Beans: 73.07, the high for the week was 78.35
Dec SRW Wheat: 55.18, the high for the week was 79.80
Dec HRW Wheat: 56.49, the high for the week was 76.08
RSI of 70 is considered overbought and due for a correction, a RSI of 50 is neutral.
Flash Sales: Yesterday, the USDA reported sales of 250,600 mts of 2026 crop soybeans to unknown.
Net farm income is forecast to decline 2.6% from 2025, and down 5.5% after adjusting for inflation, at $158.4 billion for calendar 2026, according to USDA’s Economic Research Service September update.
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