DTN Midday Grain Comments 02/25 10:49

DTN Midday Grain Comments 02/25 10:49 Corn, Wheat Futures Lower at Midday; Soybeans Mixed Corn futures are 4 to 5 cents lower at midday Tuesday; soybean futures are narrowly mixed; wheat futures are 6 to 9 cents lower. David M. Fiala DTN Contributing Analyst MARKET SUMMARY: Corn futures are 4 to 5 cents lower at midday Tuesday; soybean futures are narrowly mixed; wheat futures are 6 to 9 cents lower. The U.S. stock market is weaker with the S&P 65 points higher. The U.S. Dollar Index is 20 points lower. The interest rate products are firmer. Energy trade is mixed with crude 1.80 lower with natural gas .04 higher. Livestock trade is mostly firmer with cattle leading. Precious metals are weaker with gold off 53.00. CORN: Corn futures are 4 to 5 cents lower at midday with trade fading further into nearby support levels with risk-off trade ongoing with fresh bullish news in short supply. Ethanol margins are getting support from the pullback in corn values while unleaded drifts lower, limiting near-term blender gains. Basis action should remain flat with the temperature warm-up and board weakness adding support. On the March chart, the 20-day moving average at $4.91 is resistance, which we closed just below Friday, with the Lower Bollinger Band at $4.79 as support, which we are testing at midday. SOYBEANS: Soybean futures are narrowly mixed at midday with light, two-sided action early and meal leading the product complex. Meal is .50 to 1.50 higher, and oil is 10 to 20 points lower. South America should keep moving ahead, harvest-wise, with Argentina continuing to catch up, moisture-wise. Basis is expected to remain flat to softer as May becomes the front month. On the March chart, trade has resistance at the 20-day moving average at $10.46, which we are consolidating below, with the Lower Bollinger Band at $10.19 as the next level of support. WHEAT: Wheat futures are 6 to 9 cents lower at midday with trade fading past the first support levels with broad risk-off action and little other fresh news. Warmer weather should melt the snow cover on the Plains with the Southern Plains to exit dormancy as we push into March. MATIF wheat is slightly higher while we wait for further developments on the pollical and weather front for the Black Sea. On the KC March chart, support is the 20-day moving average at $5.97, which we are just below at midday, with the fresh high at $6.30 1/2 as resistance. David Fiala can be reached at dfiala@futuresone.com Follow him on social platform X @davidfiala (c) Copyright 2025 DTN, LLC. All rights reserved.