DTN Midday Grain Comments     03/02 10:51

   Corn, Soybean, Wheat Futures All Lower at Midday Monday

   Corn futures are 4 to 5 cents lower at midday Monday; soybean futures are 8 
to 10 cents lower; wheat futures are 3 to 14 cents lower. 

David M. Fiala
DTN Contributing Analyst

MARKET SUMMARY:

   Corn futures are 4 to 5 cents lower at midday Monday; soybean futures are 8 
to 10 cents lower; wheat futures are 3 to 14 cents lower. The U.S. stock market 
is weaker at midday with the S&P 32 points lower. The U.S. Dollar Index is 115 
points higher. The interest rate products are weaker. Energy trade is sharply 
higher with crude up 3.95 and natural gas is up .08. Livestock trade is weaker. 
Precious metals are mixed with gold 65.00 higher.

CORN:

   Corn futures are 4 to 5 cents lower with trade giving up early gains but 
holding the upper end of the range with spread action easing. Ethanol margins 
will be boosted by the energies gains if they hold into spring. Weekly export 
inspections were strong at 1.858 million metric tons (mmt) with year-to-date 
pace at 145%. Basis likely remains sideways in the short term. New-crop price 
ratios are flat to start the new month. On the May chart, support is the 20-day 
moving average at $4.40 with fresh high at $4.52 1/2.

SOYBEANS:

   Soybean futures are 8 to 10 cents lower at midday with trade fading back 
from the gap higher opening with meal weighing on action as oil holds at 
another set of fresh highs. Meal is 7.00 to 8.00 lower and oil is 110 to 120 
points higher. South America looks to continue harvest progress close to 
average pace with little change to end the growing season in Argentina. Basis 
will likely remain flat barring a bigger shipping pace increase. Weekly export 
inspections were strong at 1.138 mmt. On the May contract, chart support is 
$11.39 1/4, where we find the 20-day moving average, with the fresh high at 
$11.85 as resistance.

WHEAT:

   Wheat futures are 3 to 14 cents lower with action fading back from early 
strength as July tested above $6.00 before fading. Weather for the Plains looks 
to stay warm into this week with the moisture concentrated to the east. Matif 
wheat is softer as well. Weekly export inspections were solid at 344,272 metric 
tons with year-to-date pace at 119% of last year. On the KC May chart, support 
is the 20-day moving average at $5.59, that we bounced from, with resistance 
the fresh high at $5.90 3/4.

   David Fiala can be reached at dfiala@futuresone.com

   Follow him on social platform X @davidfiala




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