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DTN Midday Grain Comments 04/25 10:46
4/25/2025 - 11:18:00
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.