DTN Midday Grain Comments     02/18 10:46

   Soybean, Wheat Futures Higher at Midday Wednesday; Corn Mixed

   Corn futures are narrowly mixed at midday Wednesday; soybean futures are 2 
to 3 cents higher; wheat futures are 4 to 8 cents higher. 

David M. Fiala
DTN Contributing Analyst

MARKET SUMMARY:

   Corn futures are narrowly mixed at midday Wednesday; soybean futures are 2 
to 3 cents higher; wheat futures are 4 to 8 cents higher. The U.S. stock market 
is firmer at midday with the S&P 60 points higher. The U.S. Dollar Index is 30 
points higher. The interest rate products are weaker. Energy trade is mixed 
with crude up 2.10 and natural gas is off .05. Livestock trade is firmer after 
early weakness. Precious metals are sharply higher with gold 110.00 higher.

CORN:

   Corn futures are narrowly mixed at midday with trade remaining rangebound 
overall as we chop along just short of $4.30 nearby with spread action turning 
a little softer. Ethanol margins should continue to support strong production 
runs in the short term with the weekly production report delayed until 
Thursday. Basis will likely remain flat in the short term. New-crop price 
ratios are edging toward soybeans but not enough to seriously swing acres yet. 
On the March chart, support is the 20-day moving average at $4.28, which we are 
just below at midday, with resistance the recent high at $4.34 1/2.

SOYBEANS:

   Soybean futures are 2 to 3 cents higher at midday with trade edging to a 
fresh high by a couple of cents before fading during the day session with trade 
remaining overbought. Meal is 1.00 to 2.00 lower and oil is 110 to 120 points 
higher scoring fresh highs as well. Brazil harvest will roll along with some 
recent rains in Argentina helping set up the finish of the crop. Basis may 
start finding a little better support if shipments continue to improve through 
late winter. On the March chart, support is $10.94, where we find the 20-day 
moving average, with the fresh high at $11.44 as resistance.

WHEAT:

   Wheat futures are 4 to 8 cents higher at midday with trade again bouncing 
off support to push back toward the upper end of the range with good buying so 
far during the day session. Weather for the Plains looks to stay warmer than 
normal with better moisture the second half of the month. Matif wheat is a bit 
firmer as well. On the KC March chart, support is the 20-day moving average at 
$5.36 that we tested Tuesday with resistance the fresh high at $5.55.

   David Fiala can be reached at dfiala@futuresone.com

   Follow him on social platform X @davidfiala




(c) Copyright 2026 DTN, LLC. All rights reserved.