DTN Midday Grain Comments     04/06 10:51

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

   Corn futures are flat to 1 cent higher at midday Monday; soybean futures are 
2 to 3 cents higher; wheat futures are 3 to 9 cents lower. 

David M. Fiala
DTN Contributing Analyst

MARKET SUMMARY:

   Corn futures are flat to 1 cent higher at midday Monday; soybean futures are 
2 to 3 cents higher; wheat futures are 3 to 9 cents lower. The U.S. stock 
market is flat at midday with the S&P 10 points higher. The U.S. Dollar Index 
is flat. The interest rate products are firmer. Energy trade is mostly higher 
with crude up .50 and natural gas up .03. Livestock trade is mostly higher with 
hogs leading. Precious metals are mixed with gold up 13.00.

CORN:

   Corn futures are flat to 1 cent higher in quiet trade to open the week with 
flat spread action as we continue to consolidate at the lower end of the range 
as we wait for further world developments. Ethanol margins should remain pretty 
solid in the near term with unleaded holding at the upper end of the range. 
Weekly export inspections were very strong at 2.002 million metric tons (mmt) 
with year-to-date pace holding at 136%. Basis likely continues to hold the 
recent range. New-crop price ratios are favoring beans to start the week. USDA 
will release the first weekly Crop Progress and Conditions report Monday 
afternoon and it should be in line with the five-year average on planting. On 
the May chart, resistance is the 20-day moving average at $4.59, with the lower 
Bollinger Band at $4.46 as support.

SOYBEANS:

   Soybean futures are 2 to 3 cents higher at midday with the product complex 
holding light gains as oil is just short of the contract highs. Meal is .50 to 
1.50 higher and oil is 50 to 60 points higher. South America progress should 
remain on or ahead of pace with seasonal export availability to pick up further 
in the short term. Basis should stay flat in the short term with nearby 
availability remaining good for end users. Weekly export inspections slightly 
improved at 779,352 metric tons with year-to-date pace at 74%. On the May 
contract, chart resistance is $11.76, where we find the 20-day moving average, 
with the Lower Bollinger Band at $11.32 as support.

WHEAT:

   Wheat futures are 3 to 9 cents lower at midday with trade again testing the 
lower end of the range with better weather for much of the Plains expected and 
overbought conditions easing. Weather for the Plains has some rain coverage 
staying to the eastern area but better potential coverage in the extended 
outlook with overall warmer temps to continue. Matif wheat futures are closed 
for Easter. Weekly export inspections were OK at 334,106 metric tons with the 
first crop conditions likely to be a step behind year-ago levels. On the KC May 
chart, resistance is the 20-day moving average at $6.19, which we faded below 
to end last week, with the lower Bollinger Band at $5.99 as support.

   David Fiala can be reached at dfiala@futuresone.com

   Follow him on social platform X @davidfiala




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