Daily Ag Direction 6/17/25
6/17/25
Bids coming back to the grain markets this morning while the Israel/Iran peace talk rumors were just that. While neither country is a major importer/exporter of US commodities the direct relationship to grains is weak, however, both countries & the region at large is a major exporter of fertilizer inputs, particularly urea/ammonia/potash, so disruptions to that supply chain should be monitored by those affected.
Wheat harvest at 10% complete, lagging far behind 25% LY & 16% 5YA, while G/E conditions at 52% are above both last year (49%) & the 5 year average (43%). Export inspections were on the low end of within guess that added more ammo for the bears in yesterdays session. Corn ratings show the crop at 72% G/E vs. 74% LY & 69% 5YA. Export sales at the top end of guesses and still above the pace of sales per week needed to meet USDA expectations. Brazil second crop corn harvest starting slow at 4% this week vs 8% 5YA. Soybeans still moving upwards on lower conditions & biofuel mandates that could see soybean oil exports heavily subdued while domestic use of the product is forecasted to be much higher if realized. G/E ratings for beans at 66% vs 70% LY & 64% 5YA.
|
Contract |
Symbol |
Movement this session |
Price |
~Resistance |
~Support |
|
July 25 KC Wheat |
KEN25 |
+6 |
5.42 |
5.50 |
5.25 |
|
July 25 Corn |
ZCN25 |
-2 |
4.32 |
4.45 |
4.30 |
|
December 25 Corn |
ZCZ25 |
+2 |
4.37 |
4.40 |
4.30 |
|
July 25 Beans |
ZSN25 |
Flat |
10.69 |
10.70 |
10.50 |
|
November 25 Beans |
ZSX25 |
+3 |
10.63 |
10.70 |
10.50 |
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
