DTN Midday Grain Comments     04/25 10:46

   Corn, Wheat Futures Higher at Midday; Soybean Futures Lower

   Corn futures are 2 to 3 cents higher at midday; soybeans futures are 3 to 4 
cents lower and wheat futures are 1 to 3 cents higher.

David M. Fiala
DTN Contributing Analyst

MARKET SUMMARY:

   Corn futures are 2 to 3 cents higher at midday; soybeans futures are 3 to 4 
cents lower and wheat futures are 1 to 3 cents higher. The U.S. stock market is 
mixed in with the S&P 2 points lower. The U.S. Dollar Index is 25 points 
higher. The interest rate products are firmer. Energy trade is flat with crude 
.07 higher and natural gas .04 higher. Livestock trade is mixed with hogs 
leading. Precious metals are weaker with gold off 68.00.

CORN:

   Corn futures are 2 to 3 cents higher with lightly firmer spread action as we 
continue to hold the recent range with little fresh news. Ethanol margins will 
continue to struggle with unleaded holding the lower end of the range. Planting 
will likely be slowed through the weekend before warmer weather returns for 
most. The daily wire saw 235,000 metric tons sold to Mexico. Basis should 
remain fairly flat into the May contract delivery. Double crop weather in 
Brazil looks to keep ok moisture in place for the balance of the month. On the 
May chart, the 20-day moving average at 4.72 is support which we bounced off of 
Wednesday with the upper Bollinger Band at $4.94 as resistance.

SOYBEANS:

   Soybean futures are 3 to 4 cents lower with softer spread action as oil 
reverses from fresh highs and meal continues to struggle. Meal is flat to 1.00 
lower and oil is flat to 10 points lower. South America shows little short-term 
change as the remaining harvest heads towards the homestretch. Early planting 
will be slowed into the weekend, but rains should boost early emergence as we 
warm back up. The daily wire was quiet to close the week. Basis will likely 
remain sideways into the end of the month. On the May chart support is the 
20-day at 10.25, with the Upper Bollinger Band at 10.67 the next round up.

WHEAT:

   Wheat futures are 1 to 3 cents higher at midday as trade tries to extend the 
reversal from fresh lows scored yesterday. The hard red wheat areas are 
expected to see better weather into the end of the month to help conditions 
rebound better Kansas rain for many yesterday with warmer temps to boost growth 
into next week. MATIF wheat is firmer as it tries to extend as well with the 
weaker Euro helping. On the KC May Chart resistance is the 20-day at $5.56 with 
the next level of support being the fresh low at $5.31.

   David Fiala can be reached at dfiala@futuresone.com

   Follow him on social platform X @davidfiala




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