Daily Ag Direction 5/16/25
Wheat Quality Council wrapped up their Kansas tour yesterday with a total estimate of 53 bu/ac vs 5 yr average of 44.3 bu/ac. Variability was a consistent theme across the tour and Wheat Streak Mosiac has entered the conversation, but those yield numbers set a bearish tone in the overnight that is carrying on this morning on the open. The bean complex took center stage yesterday with a limit down implosion in bean oil, triggered by talk of delayed and tapered renewable diesel mandates. This reversed the flow of spec fund money that was flowing into beans on anticipation of policy-driven domestic demand. Bean futures have stabilized on the open as yesterday's knee-jerk selloff pulled levels back to Monday's 45Z driven speculative rally. All is quiet on the corn front, as consolidation around recent lows has become this week's theme, trading as 13 cent range on the week with a overall slide of 4 cents on Dec futures. With the domestic bean demand situation looking like a longer timeframe to materialize, bulls will have to wait for the weather to ignite some interest in the row crops.
July corn is +1 at 4.49
Dec corn is -1 at 4.37
July beans are +5 at 10.57
Nov beans are +6 at 10.41
July KC wheat is -6 at 5.21
July Chi wheat is -4 at 5.28
June live cattle are +.375 at 211.550
August feeders are +.600 at 296.425
If you have any questions, please reach out to your CEA Risk Management Advisor and have a great day!
Matt Hartwell (316) 617-0690
