DTN Midday Grain Comments     09/16 10:51

   Corn, Soybean, Wheat Futures All Higher at Midday

   Corn futures are 7 to 8 cents higher at midday Tuesday; soybean futures are 
6 to 8 cents higher; wheat futures are 3 to 8 cents higher.

David M. Fiala
DTN Contributing Analyst

MARKET SUMMARY:

   Corn futures are 7 to 8 cents higher at midday Tuesday; soybean futures are 
6 to 8 cents higher; wheat futures are 3 to 8 cents higher. The U.S. stock 
market is weaker with the S&P 10 lower. The U.S. Dollar Index is 45 points 
lower. The interest rate products are mixed. Energy trade is firmer with crude 
up 1.00 cents. Livestock trade is mostly higher in quieter trade. Precious 
metals are mixed with gold 2.00 higher.

CORN:

   Corn futures are 7 to 8 cents higher with trade back to retesting the recent 
highs after the soft start to the week. Ethanol margins remain solid and should 
support corn trade on harvest pressure along with unleaded holding the range 
enough to limit pressure on blenders. The weather should allow for a good early 
harvest for the rest of the month with warmer temperatures around the rains, 
with 41% of the crop rated mature, same as average and 7% harvested, same as 
average, with good to excellent at 67% and 9% poor to very poor. The daily 
export wire was quiet after the smaller corn sale Monday. On the December 
chart, the 10-day moving average at $4.21 is nearby support, then the 20-day at 
$4.15. Chart resistance is the $4.30 1/4 high printed on Friday, then the $4.40 
200-day.

SOYBEANS:

   Soybean futures are 6 to 8 cents higher at midday with oil leading the 
product complex as we continue to consolidate back toward the upper end of the 
range. Meal is flat to 1.00 higher and oil is 70 to 80 points higher. Weekly 
Crop Progress showed 41% dropping leaves versus 40% on average, and 5% 
harvested versus 3% on average, with good to excellent at 63% and 11% poor to 
very poor with early harvest likely to expand rapidly. On the November chart, 
support is the 20-day at $10.41 with major support at $10.21, our September 
low; the Upper Bollinger Band at $10.61 resistance.

WHEAT:

   Wheat futures are 3 to 8 cents higher at midday with KC action pressing 
through nearby resistance this morning. Wet weather in the Plains should fade 
this week to help planting progress along with warmer temperatures for winter 
wheat, which came in at 11% versus 13% on average, with spring 94% harvested 
versus 92% on average. MATIF wheat is moving back off the lower end of the 
range as well despite the stronger Euro. On the KC December chart, resistance 
is the 20-day at $5.15, which we are just above at midday, then the 50-day at 
$5.31. Support is at the 10-day at $5.10.

   David Fiala can be reached at dfiala@futuresone.com

   Follow him on social platform X @davidfiala




(c) Copyright 2025 DTN, LLC. All rights reserved.