DTN Midday Grain Comments     09/10 10:52

   Grains Rally at Midday: Soybeans Lead with 18--19 Gains

   Corn trade is 4 to 5 cents higher at midday, soybeans are 18 to 19 cents 
higher, and wheat is 2 to 10 cents higher. 

David M. Fiala
DTN Contributing Analyst

MARKET SUMMARY:

   The U.S. stock market is lower at midday with the S and P 31 points lower. 
The dollar index is 8 points higher. The interest rate products are weaker. 
Energy trade is firmer with crude 4.30 higher and natural gas .04 cents lower. 
Livestock trade is mixed with cattle leading. Precious metals are weaker with 
gold off 55.00.

CORN:

   Corn trade is 4 to 5 cents higher at midday with light buying after two 
sided trade as we continue to consolidate sideways ahead of the WASDE report 
tomorrow. On the WASDE report tomorrow, trade is looking for yield at 178.1 BPA 
down from 180.7 last month with carryout at 1.533 billion down from 1.653 last 
month. The weekly ethanol report should show steady production and stocks. The 
daily export was quiet after the sales yesterday with weekly sales delayed 
until tomorrow with 750,000 to 950,000 metric tons expected. Weather looks to 
cool a bit with rains likely to slow early harvest in a few areas but overall 
maturity will remain ahead of normal. Basis will likely drift short term with 
bigger harvest pressure likely to pick up into midmonth. On the December chart 
the 20-day at $5.19 is support with the fresh high at $5.49 as further 
resistance.

SOYBEANS:

   Soybeans are 18 to 19 cents higher at midday with trade edging to fresh 
contract highs with the midday strength. Meal is 4.50 to 5.50 higher and oil is 
100 to 110 points higher. On the report, trade is looking for yield at 52.5 BPA 
vs. 52.7 last month and carryout at 290 million bushels vs. 320 last month. 
Weather should ease heat stress short term to help the later maturing beans but 
the overall pace will remain ahead of normal maturity wise. The daily export 
wire saw 272,000 metric tons sold to China, and 205,600 to unknown keeping the 
pace of bookings active with weekly sales expected to be in the 1.6 to 1.9 
million metric ton range tomorrow. On the November contract chart support is 
the 20-day at 12.65 where we find the 20-day moving average with resistance the 
fresh high at 13.24.

WHEAT:

   Wheat is 2 to 10 cents higher with trade working to consolidate a nearby 
range going to the report with little other fresh news to drive trade ahead of 
the report with Euro action flatter and better row crop spillover today. On the 
report trade is looking for carryout at 720 million bushels, virtually 
unchanged from last month. Weekly export sales are expected to be in the 
200,000 to 350,000 metric ton range. Better rains into midmonth should help 
support early wheat drilling on the plains. Matif wheat is lightly higher. On 
the KC December chart support is the 20-day at $7.97 with the fresh high at 
$8.57 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.