DTN Midday Grain Comments     10/02 10:58

   Corn, Soybean, Wheat Futures All Higher at Midday Thursday

   Corn futures are 1 to 2 cents higher at midday Thursday; soybean futures are 
3 to 4 cents higher; wheat futures are 2 to 6 cents higher.

David M. Fiala
DTN Contributing Analyst

MARKET SUMMARY:

   Corn futures are 1 to 2 cents higher at midday Thursday; soybean futures are 
3 to 4 cents higher; wheat futures are 2 to 6 cents higher. The U.S. stock 
market is mixed with the S&P 12 lower. The U.S. Dollar Index is 36 points. The 
interest rate products are mixed. Energy trade is mostly lower with crude off 
.90 and natural gas up .09. Livestock trade is mostly lower. Precious metals 
are weaker with gold 45.00 lower.  

CORN:

   Corn futures are 1 to 2 cents higher in midday trade as we hold the 
late-session rebound from Wednesday with little other fresh news. The weather 
should keep harvest moving as warmer temps should allow for harvest progress to 
catch up further with some rains expected early next week. Ethanol margins are 
seeing a little pressure as corn rebounds and unleaded edges lower. The daily 
export wire will be quiet for the duration of the shutdown along with no weekly 
sales reports. On the December chart, the 20-day moving average at $4.21 3/4 is 
resistance, which we are just below. Chart support is the lower Bollinger Band 
at $4.12, which we are tested Wednesday.

SOYBEANS:

   Soybean futures are 3 to 4 cents higher at midday with trade holding the 
gains after further updates on scheduled trade talks with China were given 
along with indications that aid for soybean producers will be announced next 
week. Meal is 2.50 to 3.50 higher and oil is 10 to 20 points lower. Open 
weather should allow harvest to expand further in the short term. South 
American weather looks to be a non-issue into early planting time with many of 
the drier areas catching up rain-wise. On the November chart, resistance is the 
20-day moving average at $10.24 with support at the $9.95 lower Bollinger Band.

WHEAT:

   Wheat futures are 2 to 6 cents higher at midday with trade again working to 
bounce off the lower end of the range after scoring fresh lows early Wednesday. 
Warmer weather should help planting and emergence continue to catch up after 
the slightly slow start. MATIF wheat remains on the lower end of the range as 
well with light buying today. Southern Hemisphere wheat has seen limited issues 
so far with the Australian crop in great shape. On the KC December chart, 
resistance is the 20-day moving average at $5.08 with the lower Bollinger Band 
at $4.95 as support with a fresh low at $4.88 scored Wednesday.

   David Fiala can be reached at dfiala@futuresone.com

   Follow him on social platform X @davidfiala




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