DTN Midday Grain Comments     08/31 10:51

   Stocks, Dollar Slip as Energy and Livestock Rally

   Corn trade is narrowly mixed at midday, soybeans are flat to 1 cent higher, 
and wheat is 14 to 22 cents higher. 

David M. Fiala
DTN Contributing Analyst

MARKET SUMMARY:

   The U.S. stock market is weaker at midday with the S and P 35 points lower. 
The dollar index is 25 points lower. The interest rate products are weaker. 
Energy trade is firmer with crude 2.00 higher and natural gas .04 cents higher. 
Livestock trade is broadly firmer. Precious metals are weaker with gold off 
47.00.

CORN:

   Corn trade is narrowly mixed at midday with trade seeing light two sided 
trade with overbought conditions and month end trade likely to keep action 
drifting today. Ethanol margins look to remain solid short term but cheaper 
fall blends will narrow margins for blenders a bit. The daily export wire was 
quiet to start the week with weekly export inspections remaining solid at 1.496 
million metric tons with YTD pace at 125% as the marketing year wraps up. 
Weather looks to keep the crop moving forward especially in the west with early 
southern harvest to keep picking up with weekly crop progress expected to show 
steady to lower conditions and above average maturity. Basis will likely drift 
lower into September contract delivery. On the December chart the 20-day at 
$4.94 is support with the strong finish with the fresh high at $5.42 as further 
resistance.

SOYBEANS:

   Soybeans are flat to a penny higher at midday with trade coming off the 
early weakness with product action softer to start. Meal is 1.50 to 2.50 lower 
and oil is 95 to 105 points lower. Basis will likely fade into early harvest 
but crush margins will limit downside. Weather looks to keep late heat stress 
in play to keep pushing the crop along with the weekly report likely to show 
slightly lower conditions and above average maturity. The daily export wire saw 
159,000 metric tons of new crop sold to unknown with weekly export inspections 
soft at 250,801 metric tons with YTD pace winding up at 82% for the marketing 
year. On the November contract chart support is the 20-day at 12.16 where we 
find the 20-day moving average with resistance the fresh high at 12.94 1/2.

WHEAT:

   Wheat is 14 to 22 cents lower at midday with long profit taking heading into 
the end of the month with little fresh news and deeply overbought conditions to 
encourage short-term selling along with world price weakness. Spring wheat 
harvest should be approaching 80% on the weekly report with winter wheat 
planting to be getting underway soon. Matif wheat is sharply lower.

   David Fiala can be reached at dfiala@futuresone.com

   Follow him on social platform X @davidfiala




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