Daily Ag Direction1/23/25
Good Morning!
Wheat market saw light volume last night and into the morning. The focus for wheat is still the lack of demand in both the export and domestic markets. The Market is also watching the large fund short position that is in place and when they will choose to unwind that position. For now, we wait and watch political headlines and weather risk.
The corn market continues to have the best fundamental story in the ag sector but with values being up nearly 40 cents since January 1st, it seems like we could see a step back at any moment. Farmer selling has been very active during this runup as producers have taken advantage of this rally.
The soybean market is back to looking at Brazil weather as rains look to clear up in the Northern regions which will help harvest pace pick up. The southern areas and Argentina see more rain forecasted but so far these forecasts have underachieved.
Reminder that our JSA Select contract sign up deadline is February 1st. If you are interested in signing up corn or soybean bushels, please reach out to your Risk Management Advisor today.
March KC Wheat is -5.5 @ $5.6925
July ’25 KC Wheat is -5.5 @ $5.885
March Corn is +3 @ $4.8725
Dec’25 Corn is +3 @ $4.9875
Jan’25 Soybeans +4 @ $10.60
Nov’25 Soybeans +4.25 @ $10.51
Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day!
Mike Hellman
580-532-5126
