DTN Midday Grain Comments     07/25 10:48

   Corn, Soybean, Wheat Futures Lower at Midday

   Corn futures are 2 to 3 cents lower at midday Friday; soybean futures are 5 
to 6 cents lower; wheat futures are 1 to 6 cents lower.

David M. Fiala
DTN Contributing Analyst

MARKET SUMMARY:

   Corn futures are 2 to 3 cents lower at midday Friday; soybean futures are 5 
to 6 cents lower; wheat futures are 1 to 6 cents lower. The U.S. stock market 
is firmer with the S&P 15 points higher. The U.S. Dollar Index is 35 points 
higher. The interest rate products are firmer. Energy trade is mixed with crude 
.50 lower and natural gas .02 higher. Livestock trade is mostly lower. Precious 
metals are weaker with gold 40.00 lower.

CORN:

   Corn futures are 2 to 3 cents lower at midday with trade once again fading 
back from a test of nearby resistance with broad ag weakness and little fresh 
news. Ethanol margins look to remain stable in the short term with corn and 
unleaded weakness Friday. The forecast keeps rains mixed in with the expected 
warmer stretch to start next week. The daily export wire saw sales for new crop 
of 140,000 metric tons (mt) to South Korea, and 102,870 mt to Mexico. Basis 
looks to remain rangebound to softer in the short term. On the September chart, 
the 20-day moving average at $4.04, which we faded back from overnight, is 
resistance with the recent low at $3.91 1/4 as support.

SOYBEANS:

   Soybean futures are 5 to 6 cents lower at midday with trade fading back 
toward the lower end of the range with broad product weakness with meal back 
near the lows. Meal is 1.00 to 2.00 lower and oil is 40 to 50 points lower. The 
forecast looks to keep sustained stress limited into early podfill season. 
Basis will likely remain flat in the short term. The daily export wire saw 
142,500 mt of new-crop beans sold to Mexico. On the September chart, resistance 
is the 20-day moving average at $10.09, which we have faded from on strength 
this week, and the recent low at $9.85 1/4 as support.

WHEAT:

   Wheat futures are 1 to 6 cents lower with trade again fading back from the 
test of resistance seen late Thursday as the dollar rebounds and fresh news 
remains limited and world values fade as well. Winter wheat harvest should 
continue to head down the home stretch with spring wheat harvest drawing 
closer. MATIF wheat is weaker again as we continue to wash back from the upper 
end of the range seen early in the week. On the KC September chart, resistance 
is the 20-day moving average at $5.28, which we tested at the close Thursday, 
with the lower Bollinger Band at $5.09 as support.

   David Fiala can be reached at dfiala@futuresone.com

   Follow him on social platform X @davidfiala




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