DTN Midday Grain Comments     10/26 10:47

   Corn, Soybeans and Wheat All Lower at Midday Monday

   Corn trade is 1 to 2 cents lower at midday, soybeans are 19 to 21 cents 
lower, and wheat is 9 to 10 cents lower. The U.S. stock market is firmer at 
midday with the S&P up 70 points. The dollar index is 15 points higher. The 
interest rate products are mixed. Energy trade is mixed with crude off 1.70 and 
natural gas flat. Livestock trade is mixed with cattle leading. Precious metals 
are firmer with gold 30.00 higher. 


David M. Fiala
DTN Contributing Analyst

MARKET SUMMARY:

   Corn trade is 1 to 2 cents lower at midday, soybeans are 19 to 21 cents 
lower, and wheat is 9 to 10 cents lower. The U.S. stock market is firmer at 
midday with the S&P up 70 points. The dollar index is 15 points higher. The 
interest rate products are mixed. Energy trade is mixed with crude off 1.70 and 
natural gas flat. Livestock trade is mixed with cattle leading. Precious metals 
are firmer with gold 30.00 higher. 

CORN:

   Corn futures are 1 to 2 cents lower at midday with spillover pressure from 
soybeans dragging action back to the lows with trade remaining deeply oversold 
with harvest pressure to continue. Ethanol margins remain strong short term 
with unleaded continuing to hold the upper end of the range. Basis should start 
to see harvest pressure ease soon. The daily wire was quiet to start the week 
with weekly export inspections expected to be in the 650,000 to 850,000 metric 
ton range but the report release has been delayed for tech issues this morning. 
Harvest should push ahead before rains can slow action again at midweek with 
weekly progress likely to show past the halfway point today. On the December 
chart the 20-day at $4.87 is nearby resistance. Chart support is at the $4.43 
lower Bollinger Band and $4.50 1/4 2-month low area

SOYBEANS:

   Soybean futures are 19 to 21 cents lower at midday with the initial gap and 
sharply lower move after the unexpected result in the Brazilian presidential 
election sent the Brazilian real 11% lower along with the tail end of harvest 
pressure. Meal is six to seven lower and oil was 30 to 40 lower. Harvest should 
push to the homestretch quickly to ease harvest pressure into as November 
contract heads to delivery next week with the weekly report likely to show at 
two thirds complete or better. The daily export wire was quiet after the 
midweek sales with weekly export inspections expected to be in the 1.50 to 1.75 
million metric ton range. Basis should start head to a firmer post harvest 
stance soon. On the November contract support is the fresh low at $12.27 1/2 
with resistance the 20-day at 12.76.

WHEAT:

   Wheat futures are 9 to 10 cents lower at midday with pressure from row crops 
and deeply oversold conditions continuing to limit upside as the dollar firms. 
Open weather should allow the remaining winter wheat to go in and emerge with 
progress likely back near average on the report today. Matif wheat has turned 
sharply lower as we wait for further Black Sea political developments. Weekly 
export inspections are expected to be in the 200,000 to 350,000 metric ton 
range. On the KC December chart resistance is the 20-day at $7.17. Chart 
support is the fresh low at $6.54 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.