DTN Midday Grain Comments     06/01 10:53

   Corn, Soybean Futures Lower at Midday Monday; Wheat Mixed

   Corn futures are 5 to 6 cents lower at midday Monday; soybean futures are 3 
to 4 cents lower; wheat futures are 5 cents lower to 2 cents higher. 

David M. Fiala
DTN Contributing Analyst

MARKET SUMMARY:

   Corn futures are 5 to 6 cents lower at midday Monday; soybean futures are 3 
to 4 cents lower; wheat futures are 5 cents lower to 2 cents higher. The U.S. 
stock market is mixed at midday with the S& P 5 points higher. The U.S. Dollar 
Index is 40 higher. The interest rate products are weaker. Energy trade is 
mostly sharply higher with crude up 6.50 and natural gas off .10. Livestock 
trade is mostly higher with cattle leading. Precious metals are weaker with 
gold off 95.00.

CORN:

   Corn futures are 5 to 6 cents lower with early flat action fading to fresh 
lows despite positive energy spillover as buyers remain wary amid oversold 
conditions. Ethanol margins should remain rangebound in the short term with 
summer driving to support usage with notable gains this morning to the upside. 
Weekly export inspections remained solid at 1.728 million metric tons (mmt) 
with year-to-date pace at 127%. Basis continues to hold the recent range for 
now. Weather looks to keep the west wetter in the short term with temps holding 
gains. The weekly crop progress report should show good conditions overall with 
development pace ahead of the five-year average. On the July chart, the 20-day 
moving average of $4.68 is resistance with the recent low at $4.40 as support, 
which we scored Monday morning.

SOYBEANS:

   Soybean futures are 3 to 4 cents lower at midday with soyoil scoring fresh 
highs again while meal fades from the upper end of the range. Meal is 3.00 to 
4.00 lower and oil is 140 to 150 points higher. South America will continue to 
move post-harvest bushels on to the world market as harvest wraps up. Basis 
should remain flat with crush margins holding the recent range with the oil 
holding near the fresh highs. Weekly export inspections were rangebound at 
494,286 metric tons (mt) with year-to-date pace at 80%. Planting should wrap up 
except for double-crop soon. Weekly crop progress is likely to show conditions 
good to start with planting and emergence solidly ahead of average. On the July 
contract, chart resistance is the 20-day moving average at $12.01, with support 
the lower Bollinger Band at $11.74.

WHEAT:

   Wheat futures are 5 cents lower to 2 cents higher with winter wheat action 
leading as harvest should continue to expand around Plains storms. Weekly crop 
progress will likely show harvest and heading ahead of normal with little 
change to good to excellent for winter wheat. Spring wheat conditions will 
likely be in line with the five-year average with rains to boost short-term 
development. Matif wheat is firmer. Weekly export inspections were rangebound 
to complete the marketing year at 402,346 mt for a year-over-year run of 120%. 
On the KC July chart, resistance is the 20-day moving average at $6.87 with the 
fresh low at $6.47 as support.

    

   David Fiala can be reached at dfiala@futuresone.com

   Follow him on social platform X @davidfiala




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