DTN Midday Grain Comments     05/15 11:00

   Corn, Soybean, Wheat Futures Lower at Midday Friday

   Corn futures are 10 to 11 cents lower at midday Friday; soybean futures are 
17 to 18 cents lower; wheat futures are 21 to 26 cents lower. 

David M. Fiala
DTN Contributing Analyst

MARKET SUMMARY:

   Corn futures are 10 to 11 cents lower at midday Friday; soybean futures are 
17 to 18 cents lower; wheat futures are 21 to 26 cents lower. The U.S. stock 
market is sharply lower at midday with the S&P 65 points lower. The U.S. Dollar 
Index is 50 points higher. The interest rate products are weaker. Energy trade 
is sharply higher with crude up 3.45 and natural gas up .06. Livestock trade is 
mixed with cattle leading. Precious metals are sharply lower with gold off 
135.00.

CORN:

   Corn futures are 10 to 11 cents lower at midday with risk-off selling across 
ags returning with little news from the China summit to boost bulls along with 
better rains for the center of the belt expected. Ethanol margins are improving 
with the corn pullback with unleaded bouncing to boost blenders. Basis likely 
continues to hold the recent range for now. Open weather and temps edging back 
higher after Friday should support planting through midmonth with rains 
expected for many this weekend. On the July chart, support is the lower 
Bollinger Band at $4.56 with resistance the 20-day moving average at $4.71, 
which we faded through Thursday.

SOYBEANS:

   Soybeans are 17 to 18 cents lower at midday with products holding up better 
as long liquidation continues in the absence of fresh China commitments. Meal 
is 1.50 to 2.50 higher and oil is 30 to 40 points higher. South America will 
continue to control the short-term export market post-harvest, with trade still 
waiting for commitments for fall U.S. bushels. Basis should remain flat with 
crush margins mostly holding. The daily export wire saw 155,000 metric tons 
(mt) of meal to Italy. Planting and emergence should roll along to the weekend. 
On the July contract, chart support is the lower Bollinger Band at $11.60 with 
resistance the 20-day moving average at $11.92.

WHEAT:

   Wheat futures are 21 to 26 cents lower at midday as we continue to ease 
overbought conditions as we see negative spillover from row crops, while the 
Kansas wheat tour continues to illustrate the decline in conditions. Warmer 
weather will likely hold this week with better rains expected next week for 
many, although it will likely to be too late to help a lot in the west. Matif 
wheat is weaker as well. On the KC July chart, support is the 20-day moving 
average at $6.86, which we are testing at midday, with the fresh high at $7.50 
as resistance.

    

   David Fiala can be reached at dfiala@futuresone.com

   Follow him on social platform X @davidfiala




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