DTN Midday Grain Comments     01/14 10:47

   Wheat Futures Higher at Midday; Corn, Soybeans Mixed

   Corn futures are flat to 1 cent lower at midday Tuesday; soybean futures are 
narrowly mixed; wheat futures are 1 to 3 cents higher.

David M. Fiala
DTN Contributing Analyst

MARKET SUMMARY:

   Corn futures are flat to 1 cent lower at midday Tuesday; soybean futures are 
narrowly mixed; wheat futures are 1 to 3 cents higher. The U.S. stock market is 
mixed with the S&P down 3 points. The U.S. Dollar Index is 66 points lower. The 
interest rate products are firmer. Energy trade is mixed with crude off .80 
with natural gas .15 higher. Livestock trade is mostly higher. Precious metals 
are firmer with gold up 7.00.

CORN:

   Corn futures are flat to a penny lower at midday, fading back off the highs 
in two-sided trade so far as we work to consolidate further. Ethanol margins 
will need further unleaded gains to boost blending in the short term with corn 
and natural gas strength limiting gains otherwise. The daily export wire was 
quiet again today with the slowdown in fresh corn announcements continuing. 
Basis action is expected to stabilize further after the post-report weakness. 
On the March chart, the 20-day moving average at $4.54 is support with the 
fresh high at $4.79 3/4 as resistance.

SOYBEANS:

   Soybean futures are narrowly mixed at midday with momentum slowing after 
scoring fresh highs with oil leading the product complex. Meal is narrowly 
mixed and oil is 25 to 35 points higher. South America weather looks to stay 
with the recent pattern with early harvest to pick up soon. The daily export 
wire saw 198,000 metric tons (mt) sold to China again Tuesday. Basis will 
likely soften a bit in the short term. On the March chart, trade has support at 
the 20-day moving average at $9.96, which has held so far this week, with the 
fresh high at $10.64 the next level of resistance.

WHEAT:

   Wheat futures are 1 to 3 cents higher with trade working to consolidate 
above the nearby resistance pushed through Monday with the softer dollar likely 
to add some support after the inflation number came in lighter than expected 
Tuesday morning. The Plains are expected to moderate temperature-wise this week 
before some more potential cold with further moisture limited for now. MATIF 
wheat is weaker this morning. On the KC March chart, support is the 20-day 
moving average at $5.52 with the Upper Bollinger Band at $5.63 as further 
resistance, which we are just below at midday.

   David Fiala can be reached at dfiala@futuresone.com

   Follow him on social platform X @davidfiala

    

    




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