Daily Ag Direction 6/3/25
6/3/2025
The night session closed with the grain complex ending higher across the board, but since the open have gotten mostly flat as Russian retaliation in response to the Ukrainian weekend drone attack did not come to fruition. Dec 25 corn is entertaining high open interest, but still bouncing off the yearly lows around $4.35.
Wheat harvest is reported by the USDA to be 3% complete vs. 5% average. According to the forecasts we should see a decent slowdown to harvest completion early on with a large weather system coming into N. TX, OK, & KS this week. Corn planting progress is right at the 5 year average, but traders are watching some states above & others below their average % planted and it’s impacts to corn/bean acreage for this fall.
Ukrainian Ag minister reports a downturn in 2025 grain production potentially by as much as 10% after a warm/dry winter for the July harvested wheat & wet planting conditions for the October harvest corn. Closer to the US, Brazil is reporting their 2nd crop corn harvest at 1.3% complete. US corn conditions came in at 69% good/excellent vs. 75% this time last year & 73% average.
Beans have made new lows within the range we’ve seen since the rally in mid-april yesterday, but are pushing off those lows this morning. Lack of trade news with the Chinese, who have no new crop purchases with us booked, & no large production concerns for US crop today can be blamed for the negative slide we’ve seen over the last week.
|
Contract |
Symbol |
Movement this session |
Price |
~Resistance |
~Support |
|
July 25 KC Wheat |
KEN25 |
Down 6 |
5.33 |
5.50 |
5.25 |
|
July 25 Corn |
ZCN25 |
Down 1 |
4.37 |
4.45 |
4.30 |
|
December 25 Corn |
ZCZ25 |
Up 1 |
4.37 |
4.40 |
4.30 |
|
July 25 Beans |
ZSN25 |
Up 5 |
10.39 |
10.50 |
10.30 |
|
November 25 Beans |
ZSX25 |
Up 3 |
10.20 |
10.30 |
10.15 |
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
