Daily Ag Direction 01/08/2025
Good Morning!
Talks of Trump administration considering declaring a national economic emergency to provide legal justification for using tariffs. Commodity sector is feeling the pressure as USD, bonds and rates are climbing higher.
Wheat markets are down following two days of gains with lower crop conditions reported yesterday. Long range maps show little moisture thru the Northern and Southern Plains and into the Western Corn belt. Coupled with the poor Russian and EU crop conditions, wheat could possibly be setting up for a rally. WASDE report out on Friday along with stocks and acres report.
Corn traded lower overnight in response to the Trump tariffs. With the exception of some rainfall this weekend, Argentina looks to remain dry moving forward which should help to keep a bid under corn.
March KC Wheat is -5.5 @ $5.6025
July ’25 KC Wheat is -5.25 @ $5.6775
March Corn is -2.25 @ $4.5575
Dec’25 Corn is -1.5 @ $4.4475
Jan’25 Soybeans up a half cent @ $9.9225
Nov’25 Soybeans -3.5 @ $10.08
Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day!
Mike Hellman
580-532-5126
