Daily Ag Direction 6/13/24
Good Thursday Morning!
The USDA didn't offer many suprises to wheat with the WASDE report yesterday. They did increase HRW production to 726mb and showed harvest at 71% complete. Trade saw some selling pressure in the overnight and into the day session.
The corn market has trended higher with summer weather approaching. Producers seem to be hesitant to sell a futures number below $5. USDA didn't make many changes to corn with their WASDE report. Market patiently awaits the acreage report from USDA at the end of June.
July ’24 KC Wheat +.05 @ $6.3775
July ’25 KC Wheat -2.75 @ $6.78
July Corn +5.25 @ $4.595
Dec Corn +6.5 @ $4.7525
July Beans +9.25 @ $11.865
Nov Beans +8.5 @ $11.5575
Sept Feeders -1.20 @ $257.275
Aug Live -.275 @ $178.05
Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day!
