Daily Ag Direction1/29/25
Good Morning!
Wheat market is up again today after another positive session overnight. Some talk of freeze damage to the US HRW crop. Russian weather also remains dry with a potential cold front in the forecast. Despite the dryness, Russian officials are saying their winter wheat crop is 82% good condition. The rally in corn and soybeans is supportive of the wheat market as well.
The corn market shows continued strength as values now push back near contract highs. Momentum remains to the upside until given a reason to do otherwise. Argentina remains dry and the market seems to dismiss the light rain being forecasted for the area.
Soybeans are up today as it seems the weather stories for South America are already priced into the market. La Nina is theoretically peaked, which brings the question, how quickly it weakens into March, April and May.
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.
March KC Wheat is +16.25 @ $5.7725
July ’25 KC Wheat is +16.5 @ $5.9625
March Corn is +10.25 @ $4.955
Dec’25 Corn is +5.25 @ $4.6625
Jan’25 Soybeans +12.75 @ $10.5775
Nov’25 Soybeans +15.75 @ $10.6325
Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day!
Mike Hellman
580-532-5126
