Daily Ag Direction 1/21/25
1/21/25
Grain markets are reopening after the holiday all higher as President Trump conducts his first full day of office. Yesterday, Trump directed the Treasury Dept., Commerce Dept., & Trade Representative offices to investigate trade deficits with China & Mexico in a move that the market assumes to mean we won’t see tariffs until February sometime.
Front month soybeans are moving higher to start the day. Brazilian soybean exports to date this month are at 539k bu which is nearly 1/3 of which the country did this time last year. US beans are rallying this snail pace start to the S. American crop, 1.4% harvested vs. 12.8% LY (5.9% average progress).
Front month corn trading flat just underneath the close on Friday which was the highest level since mid June. Argentina’s corn production estimate lowered 1mmt to 48mmt as hot & dry conditions hurt yields.
Wheat is finding buyers this morning as extreme cold conditions moved through the central US with very limited snow cover. Despite the rally, wheat still remains firmly range bound for the time being.
Markets as of 9:45 AM
March KC up 15 @ 5.64 / Resistance @ 5.75 / Support @ 5.45
- New crop KC July25 @ 5.82
March Corn flat @ 4.84 / Resistance @ 4.85 / Support @ 4.75
- New crop Dec25 @ 4.55
March Beans up 13 @ 10.46 / Resistance @ 10.60 / Support @ 10.20
- New crop Nov25 @ 10.35
If you are interested in enrolling bushels into a JSA Select contract for milo, soybeans, or corn please contact your CEA Risk Management Advisor. Deadlines for entrance to the program is February 1st.
Have a great day & stay warm!
Kavan Killian 806.753.7099
Risk Management Advisor TX/OK Panhandle
