DTN Midday Grain Comments     07/20 10:56

   Corn, Soybean Futures Higher at Midday Monday; Wheat Flat-Lower

   Corn futures are 5 to 6 cents higher at midday Monday; soybean futures are 
22 to 24 cents higher; wheat futures are flat to 7 cents lower. 

David M. Fiala
DTN Contributing Analyst

MARKET SUMMARY:

   Corn futures are 5 to 6 cents higher at midday Monday; soybean futures are 
22 to 24 cents higher; wheat futures are flat to 7 cents lower. The U.S. stock 
market is mixed at midday with the S&P 25 points higher. The U.S. Dollar Index 
is 25 points higher. The interest rate products are weaker. Energy trade is 
weaker with crude .30 lower and natural gas .06 lower. Livestock trade is 
firmer with cattle leading. Precious metals are weaker with gold off 80.00.

CORN:

   Corn futures are 5 to 6 cents higher at midday with trade pressing into the 
upper end of the range again with a new high for the move scored with weather 
concerns lingering despite midweek relief expected for many. Ethanol margins 
should remain solid but will face headwinds from overall driving demand 
weakness. The daily export wire saw 100,000 metric tons of new crop sold to 
Colombia. Weekly export inspections solid at 1.550 million metric tons (mmt) 
with year-to-date pace at 125%. Weather should see a cooler-and-wetter stretch 
for much of the belt through midweek before warming again. Weekly crop progress 
is expected to show a slight condition decline with above-average development 
pace. On the September chart, the 20-day moving average at $4.31 is support 
with the upper Bollinger Band at $4.55 as resistance.

SOYBEANS:

   Soybean futures are 22 to 24 cents higher at midday with action back near 
the spring highs and meal leading the product complex. Meal is 5.00 to 6.00 
higher and oil is 80 to 90 points higher. Basis should stay flat with crush 
margins keeping pace with the rally so far. Weather looks to show short-term 
improvement before warming into key pod-filling season. Weekly crop progress is 
expected to show slightly weaker conditions with development pace above 
average. The daily export wire remained active at 264,000 metric tons to China 
and 110,000 to unknown destinations. Weekly export inspections were soft at 
296,972 metric tons with year-to-date pace at 82%. On the September contract, 
chart support is the 20-day moving average at $11.61 with the Upper Bollinger 
Band at $12.20 as resistance.

WHEAT:

   Wheat futures are flat to 7 cents lower at midday with trade consolidating 
at the top of the range with overbought conditions easing a bit to start the 
week. Weekly crop progress should show winter wheat harvest near 80% complete 
with the north left to go and spring wheat conditions likely to decline a bit 
with development above normal. Weekly export inspections were soft at 213,993 
metric tons with year-to-date pace slipping to 70%. Matif wheat and euro corn 
are flat to firmer as well. On the KC September chart, support is the 20-day 
moving average at $6.59 with the fresh high for the move at $7.40 as resistance.

   David Fiala can be reached at dfiala@futuresone.com

   Follow him on social platform X @davidfiala




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