DTN Midday Grain Comments 02/18 11:00

DTN Midday Grain Comments 02/18 11:00 Corn, Soybean, Wheat Futures Higher at Midday Corn futures are 5 to 6 higher at midday Tuesday; soybean futures are 2 to 3 cents higher; wheat futures are 7 to 8 cents higher. David M. Fiala DTN Contributing Analyst MARKET SUMMARY: Corn futures are 5 to 6 higher at midday Tuesday; soybean futures are 2 to 3 cents higher; wheat futures are 7 to 8 cents higher. The U.S. stock market is mixed with the S&P 4 points higher. The U.S. Dollar Index is 21 points higher. The interest rate products are weaker. Energy trade is firmer with crude .90 higher with natural gas .07 higher. Livestock trade is mostly higher with hogs leading. Precious metals are mixed with gold up 45.00. CORN: Corn futures are 5 to 6 cents higher at midday with trade pressing past the $5.00 area on the front month with trade scoring fresh highs despite softer spread action. Ethanol margins continue to struggle with unleaded strength fading and corn holding the upper end of the range with colder weather likely to suppress driving demand through the middle of the week. Export inspections were strong at 1.611 million metric tons (mmt) with year-to-date pace at 135% of a year ago. Basis action should flatten out with cold weather likely to limit off-farm movement. On the March chart, the 20-day moving average at $4.90 is support with the fresh high at $5.02 1/4 as resistance. SOYBEANS: Soybean futures are 2 to 3 cents higher at midday with early overnight weakness turning to buying with light product strength as we consolidate further below nearby resistance. Meal is flat to 1.00 higher and oil is 50 to 60 points higher. South America would continue to see harvest progress in Brazil and little change to the pattern in Argentina. Weekly export inspections slowed seasonally to 720,332 metric tons (mt). Basis is expected to remain flat to soft near term as the export window closes further. On the March chart, trade has resistance at the 20-day moving average at $10.50, which we are consolidating below, with the Lower Bollinger Band at $10.25 as the next level of support. WHEAT: Wheat futures are 7 to 8 cents higher with firmer action through the day session after the early weakness as trade scores fresh highs for the move. Cold air with some snow is expected to sit over the Plains until warmer weather returns this weekend. MATIF wheat is firming back to the upper end of the range after the weakness last week. Weekly export inspections were soft at 249,812 mt. On the KC March chart, support is the 20-day moving average at $5.87 with the fresh high at $6.29 1/4 as resistance. David Fiala can be reached at [email protected] Follow him on social platform X @davidfiala (c) Copyright 2025 DTN, LLC. All rights reserved.