Daily Ag Direction 6/5/25
Good Morning!
Yesterday’s bounce in wheat appeared to be driven by the call between Trump and Putin, during which Putin stated that Russia would retaliate against recent Ukrainian attacks. China’s wheat crop is performing better than initially expected, which is likely to dampen today’s bullish sentiment around global wheat demand. This development could also pressure new-crop corn bulls, as China may continue to rely heavily on feed wheat over the next 12 months.
The corn market continues to trade sideways as favorable U.S. weather forecasts persist and the strong old-crop demand narrative begins to fade. Final insurance planting dates hit the Eastern Corn Belt today and tomorrow. While most of the remaining acres were likely planted this week, some prevent plant acres are still expected.
July KC Wheat is -2.25 @ $5.3825
Sept KC Wheat is -2.5 @ $5.515
July Corn is -4 @ $4.3475
Dec Corn is even @ $4.4375
July Soybeans are -2.5 @ $10.425
Nov Soybeans are down a half cent @ $10.245
Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day!
Mike Hellman
580-532-5126
