DTN Midday Grain Comments     11/28 10:51

   Corn, Soybean Futures Higher at Midday Friday; Wheat Mixed

   Corn futures are 1 to 2 cents higher at midday Friday; soybean futures are 4 
to 5 cents higher; wheat futures are 2 cents lower to 3 cents higher.

David M. Fiala
DTN Contributing Analyst

MARKET SUMMARY:

   Corn futures are 1 to 2 cents higher at midday Friday; soybean futures are 4 
to 5 cents higher; wheat futures are 2 cents lower to 3 cents higher. The U.S. 
stock market is firmer at midday with the S&P 23 points higher. The U.S. Dollar 
Index is 7 points lower. The interest rate products are flat. Energy trade is 
firmer with crude .60 higher and natural gas is .20 higher. Livestock trade is 
has cattle sharply higher in broad strength. Precious metals are firmer with 
gold up 37.00.

CORN:

   Corn trade is 1 to 2 cents higher with light buying in quiet trade as March 
becomes the front month in the abbreviated session Friday. Ethanol margins 
remain solid with unleaded values firming a little to boost blender margins. 
The daily export wire saw a sale of 273,988 metric tons (mt) to unknown 
destinations. Basis should continue to stabilize and firm in most areas with 
the well-above-normal fall shipment and usage pace. On the March chart, 
resistance is the 20-day moving average at $4.44, which we have edged above at 
midday, with the lower Bollinger Band at $4.35, which we bounced from Wednesday 
as further support.

SOYBEANS:

   Soybean futures are 4 to 5 cents higher at midday with mixed product action 
and further confirmation of sales to China. Meal is 2.00 to 3.00 higher and oil 
is 90 to 100 points higher. South American weather continues to keep overall 
concerns limited as we get deeper in the growing season; but the recent stretch 
has been a bit dry for much of the main growing areas. Basis gains will likely 
slow as crush gains fade especially with meal and export shipments need to 
catch up further. The daily export wire saw 312,000 mt sold to China. On the 
January chart, resistance is the $11.69 1/2 area where we find the recent high, 
with the 20-day moving average at 11.27, as support as we are solidly above at 
midday.

WHEAT:

   Wheat futures are 2 cents lower to 3 cents higher at midday with limited 
action as we continue to hold just above the lower end of the recent range with 
little other fresh influence from the dollar or row crops. Weather turning 
colder for the Plains should push things toward dormancy across the plains. 
MATIF wheat is weaker so far today. On the KC March Chart resistance is the 
20-day at $5.36, which we are just below at midday, with the support at the 
lower Bollinger Band at $5.20, which we bounced from Tuesday.

    

   **

   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.