DTN Midday Grain Comments     10/15 10:47

   Corn, Soybean Futures Higher at Midday Wednesday; Wheat Lower

   Corn futures are 1 to 2 cents higher at midday Wednesday; soybean futures 
are 2 to 3 cents higher; wheat futures are 2 to 3 cents lower.

David M. Fiala
DTN Contributing Analyst

MARKET SUMMARY:

   Corn futures are 1 to 2 cents higher at midday Wednesday; soybean futures 
are 2 to 3 cents higher; wheat futures are 2 to 3 cents lower. The U.S. stock 
market is firmer at midday with the S&P up 55 but well off early day highs. The 
U.S. Dollar Index is 30 points lower. The interest rate products are mixed. 
Energy trade is weaker with crude off .35 and natural gas is off .03. Livestock 
trade is mixed as cattle ease overbought conditions. Precious metals are firmer 
with gold up 55.00, holding near all-time highs.

CORN:

   Corn futures are 1 to 2 cents higher at midday with rangebound trade 
continuing along with firmer spread action with little other fresh news. 
Ethanol margins should remain solid with rangebound action continuing and the 
weekly EIA report delayed until Thursday. Harvest should continue to press on 
as we are likely near the halfway point nationally with enough open weather. 
Fresh export sales remain unreported with the government shut down. On the 
December chart, support is at $4.09 1/2, the area of our fresh lows, then the 
late August low at $4.03 1/2 with resistance the 20-day moving average at $4.19.

SOYBEANS:

   Soybean futures are 2 to 3 cents higher at midday with trade continuing to 
chop just above $10.00 with trade watching to see how the talk of cooking oil 
trade embargos with China goes. Meal is 2.00 to 3.00 higher and oil is 10 to 20 
points higher. Harvest should make good additional progress this week as we 
should be close to halfway done nationally. South American weather looks to be 
a nonissue into early planting for Brazil with early pace quick so far. On the 
November chart, resistance is at the 20-day moving average at $10.19, then the 
upper Bollinger Band at $10.43. November chart support is at $10.02, the 
overnight low, then the Oct. 1 low of $9.93 3/4.   

WHEAT:

   Wheat futures are 2 to 3 cents lower at midday with trade giving back some 
of Tuesday's gains as we remain oversold at the lower end of the range with 
little other fresh news. Warmer weather should help planting and emergence 
continue to catch up overall for winter wheat domestically. MATIF wheat remains 
on the lower end of the range as well with light selling to start the day. 
Southern Hemisphere wheat continues to develop well. On the KC December chart, 
support is at the daily low of $4.77 1/2 with resistance at the 20-day moving 
average of $4.99.  

   David Fiala can be reached at dfiala@futuresone.com

   Follow him on social platform X @davidfiala




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