DTN Midday Grain Comments     07/22 10:55

   Corn, Wheat Futures Higher at Midday Wednesday; Soybeans Lower

   Corn futures are 8 to 9 cents higher at midday Wednesday; soybean futures 
are 14 to 15 cents lower; wheat futures are 21 to 32 cents higher. 

David M. Fiala
DTN Contributing Analyst

MARKET SUMMARY:

   Corn futures are 8 to 9 cents higher at midday Wednesday; soybean futures 
are 14 to 15 cents lower; wheat futures are 21 to 32 cents higher. The U.S. 
stock market is mixed at midday with the S&P 10 points higher. The U.S. Dollar 
Index is 7 points lower. The interest rate products are weaker. Energy trade is 
firmer with crude 2.40 higher and natural gas .05 higher. Livestock trade is 
mixed with hogs leading. Precious metals are weaker with gold up 88.00.

CORN:

   Corn futures are 8 to 9 cents higher at midday with broad ag strength 
continuing to push action back to the upper end of the range with mixed spread 
action as we watch for further weather and world event developments. The weekly 
ethanol report showed production up 54,000 barrels per day with stocks up 
100,000 barrels on the week. Weekly export sales are expected to be in the 
200,000 to 400,000 metric ton (mt) range. Weather should see a cooler and 
wetter stretch for much of the Corn Belt to the weekend with warmer, drier 
weather expected to return after that. On the September chart, the 20-day 
moving average at $4.35 is support with the upper Bollinger Band at $4.61 as 
resistance.

SOYBEANS:

   Soybean futures are 14 to 15 cents higher at midday with meal leading the 
product complex as we continue to consolidate near the highs of the year. Meal 
is 7.50 to 8.50 higher and oil is 70 to 80 points higher. Basis should stay 
flat with crush margins holding the recent range. Weather looks to show 
short-term improvement before warming into key podfill season. Weekly export 
sales are expected to be in the 700,000 to 1.0 million metric ton (mmt) range 
between crop years on Thursday's report. On the September contract, chart 
support is the 20-day moving average at $11.79 with the Upper Bollinger Band at 
$12.31 as resistance.

WHEAT:

   Wheat futures are 21 to 32 cents higher with KC action leading as trade 
presses into fresh highs for the move with the positive spillover from row-crop 
and world markets keeping the trend up through the overbought conditions. 
Winter wheat harvest will continue to wind down with spring wheat areas seeing 
some short-term temperature relief. Matif wheat and E.U. corn are sharply 
higher again. Weekly export sales are expected to be in the 200,000 to 400,000 
metric ton range. On the KC September chart, support is the 20-day moving 
average at $6.69 with the fresh high for the move at $7.68 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.