DTN Midday Grain Comments     03/14 10:49

   Corn Futures Lower at Midday; Soybeans Higher; Wheat Flat-Lower

   Corn futures are 6 to 7 cents lower at midday Friday; soybean futures are 1 
to 2 cents higher; wheat futures are flat to 3 cents lower.

David M. Fiala
DTN Contributing Analyst

MARKET SUMMARY:

   Corn futures are 6 to 7 cents lower at midday Friday; soybean futures are 1 
to 2 cents higher; wheat futures are flat to 3 cents lower. The U.S. stock 
market is firmer with the S&P 95 points higher. The U.S. Dollar Index is 10 
points lower. The interest rate products are weaker. Energy trade is mixed with 
crude .45 higher with natural gas .08 lower. Livestock trade is mixed with hogs 
leading. Precious metals are weaker with gold off 1.50.

CORN:

   Corn futures are 6 to 7 cents lower at midday with trade fading back to the 
lower end of the range again as we struggle to hold direction with little fresh 
news. Ethanol margins remain rangebound with unleaded gains needed to boost 
blender margins into spring. The daily export wire saw 218,604 metric tons (mt) 
received by unknown for old crop. Basis is expected to stay rangebound short 
term. On the May chart, the 20-day moving average at $4.81 is resistance with 
the recent low at $4.42 1/4 as support.

SOYBEANS:

   Soybean futures are 1 to 2 cents higher at midday, holding the Thursday 
gains so far with meal gains slowing and oil trying to firm off the lows with 
little other fresh news to drive action. Meal is 1.50 to 2.50 lower and oil is 
10 to 20 points higher. South America is expected to see little change to the 
recent pattern with fresh concerns remaining limited and harvest moving along 
at a good clip. The daily export wire saw another 20,000 metric tons of oil 
sold to unknown. Basis is expected to remain flat to softer through midmonth. 
On the May chart, trade has resistance at the 20-day moving average at $10.30 
with the recent low at $9.91 as support, which we held Friday.

WHEAT:

   Wheat futures are flat to 3 cents lower with KC wheat leading in two-sided 
action with trade working just below nearby resistance. Warmer weather is 
expected to continue for the most part into next week with moisture for the 
Plains holding off until next week. MATIF wheat is weaker with choppy action 
persisting there as well. On the KC May chart, resistance is the 20-day moving 
average at $5.91 with support at the recent low at $5.41.

   David Fiala can be reached at dfiala@futuresone.com

   Follow him on social platform X @davidfiala




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