DTN Midday Grain Comments     08/28 10:48

   Grains Rally Sharply Higher at Midday Across the Board

   Corn trade is 4 to 5 cents higher at midday, soybeans are 17 to 18 cents 
higher, and wheat is 18 to 26 cents higher. 

David M. Fiala
DTN Contributing Analyst

MARKET SUMMARY:

   The U.S. stock market is firmer at midday with the S and P 35 points higher. 
The dollar index is 38 points higher. The interest rate products are mixed. 
Energy trade is mixed with crude .40 lower and natural gas .04 cents lower with 
unleaded and diesel up .07 cents. Livestock trade is mostly lower. Precious 
metals are weaker with gold off 50.00.

CORN:

   Corn trade is 4 to 5 cents higher at midday with another set of fresh highs 
coming in again with as we get more overbought heading into the September 
contract going into delivery and the end of the month with strong positive 
spillover from wheat and soybeans. Ethanol margins are narrowing a bit more 
with corn firming and summer driving season winding down but unleaded continues 
to hold the upper end of the range. The daily export wire was quiet to close 
the week. Weather looks to keep the crop moving forward especially in the west 
with early southern harvest to keep picking up. Basis will likely drift lower 
into September contract delivery. On the December chart the 20-day at $4.90 3/4 
is support with the strong finish with the fresh high at $5.41 1/4 as further 
resistance.

SOYBEANS:

   Soybeans are 17 to 18 cents higher at midday with trade pressing into fresh 
highs as well with product strength with meal scoring fresh highs and oil 
continuing to shake off recent weakness as we continue to get more overbought 
as well. Meal is 10.00 to 11.00 higher and oil is 185 to 195 higher. Basis will 
likely fade into early harvest but crush margins will limit downside. Weather 
looks to keep near term podfill weather in better shape for most through the 
end of the month with some areas of heat stress. The daily export wire was 
active with 182,000 metric tons to China, 226,000 to unknown and 100,000 of 
meal to each for Germany and the Netherlands. On the November contract chart 
support is the 20-day at 12.06 where we find the 20-day moving average with 
resistance the fresh high at 12.87.

WHEAT:

   Wheat is 18 to 26 cents higher at midday with trade continuing to get more 
overbought as well as we continue to see support from row crops and world 
markets pushing us to fresh highs again today. Spring wheat harvest should 
start to wind down soon as we push towards 3/4 complete with the plains needing 
further moisture ahead of fall planting soon. Matif wheat is solidly higher 
today as well. On the KC December chart support is the 20-day at $7.59 with the 
fresh high at $8.48 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.