Daily Ag Direction 1/31/25
Tariffs are the focus as grains open sharply lower. While South American weather risk has kept that bear at bay in recent weeks, tomorrow's potential announcement of tariffs on Mexico, Canada, and China are setting the tone going into Friday's trade although beans trying to move off lows folllowing the open. The length that funds have built in corn over the month of January looks to be a bit of a liability as weather risk is fading from the South American picture. Export numbers for wheat picked up a little bit this week, and with global cash markets firming and a weather risk story developing in India, there are some positive narratives but wheat is not immune to tariff-based downside risk alongside corn and beans.
March corn is -9 at 4.81
Dec corn is -4 at 4.60
March beans are -2 at 10.42
Nov beans are -2 at 10.51
March KC wheat is -13 at 5.75
July KC wheat is -12 at 5.95
March Chi wheat is -10 at 5.55
July Chi wheat is -10 at 5.80
Feb Live Cattle are +.15 at 204.625
March Feeders are +2.125 at 275.225
If you have any questions please reach out to your CEA Risk Management Advisor and have a great day!
Matt Hartwell (316) 617-0690
