Daily Ag Direction 7/1/25
7/1/25
Grain markets opening mixed with KC wheat up and corn / beans under heavy pressure continued from yesterday’s crop report. Sept & Dec corn contracts made new lows, but found some buying to keep them within last weeks range. Winter & spring wheat conditions both reduced 1%, still about the same level as last year. Wheat harvest progresses where it can stay dry @ 37% vs 42% 5 year average. Corn continues to receive bearish news as US crop ratings moved 3% higher to 73% G/E which will have the market thinking higher yields in the short term until something breaks. Ag Rural raised Brazilian estimates for the 24/25 Brazilian corn production from 128.5 to 130.6 MMT due to a high yielding second crop which is reportedly 18% harvested. Soybeans also faring well enough in ratings @ 66% G/E. USDA announced reopening the southern border for cattle imports from Mexico in stages with Arizona to have the first crossing released. Ukraine reporting 24/25 exports at 40.6 MMT, a 10.5 MMT decrease from the previous year. On the supportive side, the USD is trading lower helping grain markets, but not enough to stem the tide for row crops.
|
Contract |
Symbol |
Movement this session |
Price |
~Resistance |
~Support |
|
Sept 25 KC Wheat |
KEU25 |
+6.5 |
5.33 |
5.50 |
5.25 |
|
Sept 25 Corn |
ZCU25 |
-5.25 |
4.03 |
4.15 |
4.00 |
|
December 25 Corn |
ZCZ25 |
-5 |
4.20 |
4.25 |
4.15 |
|
November 25 Beans |
ZSX25 |
-6.5 |
10.20 |
10.30 |
10.15 |
|
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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
