Daily Ag Direction 5/13/2025
Good morning!
WASDE report yesterday sent soybean complex and corn higher, but in todays trade the market is taking some profits off the top of that move. Wheat continues it’s bleeding lower driven by US & World stocks exceeding expectations & good crop ratings yesterday afternoon. Wheat expected to see a bearish report and that is what we got with a 2025/26 carryout at 923 mb. The July KC HRW contract is holding just above the $5/bu which will be a key level of support to monitor closely. Corn carryout for 2025/26 was expected around 2 billion bushels yesterday, but USDA released at 1.8 billion bushels which leaves stocks-to-use ratio at 11.6%. Soybeans taking home the prize in yesterdays trade with a friendly report & news of a US/China trade deal in the works caused the soybean complex prices to rise with Nov 2025 beans up $.27/bu at the end of the day. USDA project bean carryouts for this marketing year to be tighter than they have been the last two years at 295mbu or 6.7% Stocks/Use ratio.
|
Contract |
Symbol |
Movement this session |
Price |
~Resistance |
~Support |
|
July 25 KC Wheat |
KEN25 |
Down 3 |
5.04 |
5.10 |
5.00 |
|
July 25 Corn |
ZCN25 |
Down 6 |
4.41 |
4.60 |
4.40 |
|
December 25 Corn |
ZCZ25 |
Down 4 |
4.40 |
4.55 |
4.40 |
|
July 25 Beans |
ZSN25 |
Down 6 |
10.64 |
10.70 |
10.60 |
|
November 25 Beans |
ZSX25 |
Down 5 |
10.51 |
10.60 |
10.40 |
Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day!
-Kavan Killian 806.753.7099 RMA TX/OK Panhandle
