DTN Midday Grain Comments     06/12 10:49

   Corn, Soybeans, Wheat Futures All Higher at Midday Friday

   Corn futures are 3 to 4 cents higher at midday Friday; soybean futures are 1 
to 2 cents higher; wheat futures are 3 to 5 cents higher. 

David M. Fiala
DTN Contributing Analyst

MARKET SUMMARY:

   Corn futures are 3 to 4 cents higher at midday Friday; soybean futures are 1 
to 2 cents higher; wheat futures are 3 to 5 cents higher. The U.S. stock market 
is firmer at midday with the S&P 50 points higher. The U.S. Dollar Index is 13 
points lower. The interest rate products are weaker. Energy trade is weaker 
with crude off 3.40 and natural gas up .03. Livestock trade is mostly lower 
with hogs leading. Precious metals are firmer with gold up 125.00.

CORN:

   Corn futures are 3 to 4 cents higher with another set of fresh lows scored 
overnight before turned higher during the day session as we wait on world 
events. On the report Thursday we saw little change, trendline yield stayed at 
183.0 bushels per acre (bpa) with old-crop carryout at 2.145 billion bushels 
(bb), virtually unchanged, and new-crop carryout at 1.960 bb, also virtually 
unchanged. World stocks edged higher on South American production. Ethanol 
margins look to hold the recent range even with unleaded fading a bit. Basis 
continues to hold the recent range for now. Weather looks to keep concerns 
limited with rains moving to the center of the Corn Belt with cooler weather 
expected for most into next week. On the July chart, the 20-day moving average 
at $4.46 3/4 is resistance with the fresh low at $4.08 1/2 as support, which we 
scored overnight.

SOYBEANS:

   Soybean futures are 1 to 2 cents higher at midday with meal leading the 
product complex as we chop along the low end of the range. Meal is .50 to 1.50 
higher and oil is 25 to 35 points lower. On the WASDE report, trendline yield 
stayed at 53.0 bpa with old-crop carryout unchanged at 340 million bushels 
(mb), and new-crop carryout at 310 mb and world stocks flat. Basis has started 
to firm in some areas and crush margins look to be shifting a little toward 
meal as oil momentum fades. On the July contract, chart resistance is the 
20-day moving average at $11.68, with the fresh low scored Thursday at $11.08 
1/2 as support.

WHEAT:

   Wheat futures is 3 to 5 cents higher at midday with trade working to hold 
light weekly gains into the weekend with row-crop spillover pressure easing a 
bit. Harvest should continue to expand with the west drying out again in the 
short term, which should keep the average pace well ahead of normal, while 
spring wheat development should be aided by recent rains but cooler temps may 
slow growth. On the report, we saw old-crop carryout at 935 mb, unchanged, and 
new-crop carryout at 744 mb, down 18 mb with world stocks flat. Matif wheat is 
lightly weaker with the firmer euro Friday. On the KC July chart, resistance is 
the 20-day moving average at $6.56 with the recent low at $6.15 1/2 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.