| |
DTN Midday Grain Comments 12/04 10:55
Corn, Soybean, Wheat Futures Higher at Midday Thursday
Corn futures are 3 to 4 cents higher at midday Thursday; soybean futures are
5 to 6 cents higher; wheat futures are 1 to 3 cents higher.
David M. Fiala
DTN Contributing Analyst
MARKET SUMMARY:
Corn futures are 3 to 4 cents higher at midday Thursday; soybean futures are
5 to 6 cents higher; wheat futures are 1 to 3 cents higher. The U.S. stock
market is weaker at midday with the S&P 5 points lower. The U.S. Dollar Index
is 8 points higher. The interest rate products are weaker. Energy trade is
mixed with crude .80 higher and natural gas is .01 lower. Livestock trade is
mostly higher with hogs leading. Precious metals are mixed with gold up 11.00.
CORN:
Corn futures are 3 to 4 cents higher at midday with light, two-sided trade
turning positive into the day session with export demand continuing to show.
Ethanol margins have gotten a little boost from unleaded stabilizing, keeping
us rangebound. The daily export wire saw sales to Mexico of 392,500 metric tons
(mt), and to Columbia of 100,800 mt. Basis will likely remain steady to firm
with good nearby demand and poor weather slowing movement. On the March chart,
support is the 20-day moving average at $4.44, which we are just above at
midday, with the Upper Bollinger Band at $4.54 the next round up.
SOYBEANS:
Soybean futures are 5 to 6 cents higher at midday with trade working to firm
back from the recent lows with meal leading the product complex in fairly quiet
action. Meal is 1.50 to 2.50 higher and oil is 5 to 15 points lower. South
American weather continues to keep concerns limited for now with some dry
pockets persisting but a better forecast ahead. Basis gains will likely remain
soft in the short term as crush gains fade and export shipments continue to lag
a bit. The daily export wire was quiet today. On the January chart, resistance
is the 20-day moving average at $11.30 that we failed to hold above again
yesterday, with support the Lower Bollinger Band at $11.06 1/2.
WHEAT:
Wheat futures are 1 to 3 cents higher with rangebound action likely to
continue in the short term as buyers remain reluctant to commit as the Black
Sea situation evolves and weather stories remain limited. Weather turning
colder for the Plains should push things toward dormancy across the area with
snow cover limited for now. MATIF wheat is weaker Thursday morning. On the KC
March chart, resistance is the 20-day moving average at $5.34, which we are
testing at midday, with support at the lower Bollinger Band at $5.17, which we
bounced from last week.
**
Mark your calendars for the next DTN Ag Summit "Planning for Success" on
Dec. 3-4 from 9:30 to 11:30 a.m.
https://nam11.safelinks.protection.outlook.com/?url=https%3A%2F%2Fdtn.link%2FDTN
AgSummit&data=05%7C02%7CCheri.Zagurski%40dtn.com%7C2a6ca45b03734554e26808de2c3b7
4e5%7Cd945da26f07f451496e79b8f78a743d0%7C0%7C0%7C638996831032929690%7CUnknown%7C
TWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoi
TWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=tnBsqjvp%2B%2FMvTfL2uNFCn%2FCVCcjRFu
TrE%2FZQNSciRlg%3D&reserved=0
Cyclical challenges in the grain market and shifting power dynamics in the
cattle complex highlight the necessity of preparedness, not only to mitigate
risk, but also to maximize opportunities.
In our capstone DTN Ag Summit event, we'll hear directly from young farmers
and ranchers about the approaches they're taking to set their businesses up for
success and from DTN experts with critical outlooks to help you craft your game
plan for 2026.
Featured DTN speakers include Lead Analyst Rhett Montgomery, Ag
Meteorologist John Baranick and Livestock Analyst ShayLe Stewart for respective
outlooks on the grain market, weather and cattle. Senior Editor Dan Miller
welcomes a panel of DTN's America's Best Young Farmers and Ranchers award
recipients -- Lucas and Dana Dull and Lillie and Brian Beringer-Crock -- to
discuss new avenues of business and pivots each have made to welcome more
agritourism to their operations.
**
David Fiala can be reached at dfiala@futuresone.com
Follow him on social platform X @davidfiala
(c) Copyright 2025 DTN, LLC. All rights reserved.
Get your local Cash Bids emailed to you each morning from DTN – click here to sign up for DTN Snapshot.
|
|
