Daily Ag Direction 01/02/2025
Good Morning!
Paris wheat traded higher overnight which should lead to some new fund short covering that can flow into the US wheat complex. Upcoming winter storm looks to impact HRW and SRW areas in the central US and Southern plains with ice, snow and very cold temperatures.
Spec funds continue to push corn prices higher on strong export sales and expectations for strong ethanol demand. China approved 12 types of GMO corn, beans and cotton in addition to 5 types of gene edited crop varieties including corn, wheat and beans.
Stonex Brazil puts Brazil soybean crop at 171.4mmt up from previous 166.2mmt. USDA puts the Brazil crop at 169mmt. Over the last few days, drier areas of Argentina have seen a nice series of rains. Maps show a continued pattern of dryer, warmer weather.
March KC Wheat is -3 @ $5.5625
July ’25 KC Wheat is -3 @ $5.73
March Corn is up a quarter penny @ $4.5875
Dec’25 Corn is up a half penny @ $4.4425
Jan’25 Soybeans -5.75 @ $9.925
Nov’25 Soybeans down a half penny @ $10.2475
Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day!
Mike Hellman
580-532-5126
