Daily Ag Direction 01/09/2025
Good Morning!
Markets close early today at 12:15pm for President Jimmy Carter’s funeral. Expectations are for a quiet day as the trade looks to square away ahead of tomorrows 11AM WASDE report. For the most part the trade isn’t expecting much change for acres, possibly some minor changes on yields and expect lower corn and bean stocks. There are some that anticipate higher wheat acres, so it will be interesting to see how that plays out.
Wheat markets are range bound for now as we look for spring weather to set the tone for price direction. The corn market didn’t see much action in the overnight as we await the WASDE tomorrow. The trend has been to reduce harvested acres on the Jan reports, so keep an eye out there tomorrow. Beans have traded sideways as there is limited yield risk in Brazil, but Argentina remains dry.
March KC Wheat is down ¾ of a cent @ $5.495
July ’25 KC Wheat is -1.5 @ $5.665
March Corn is up ¾ a penny @ $4.5475
Dec’25 Corn is down half a cent @ $4.445
Jan’25 Soybeans -6.25 @ $9.8125
Nov’25 Soybeans -4 @ $10.05
Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day!
Mike Hellman
580-532-5126
