Daily Ag Direction 12/19/24
Good Morning!
Not much news overnight except the Congressional Stoppage Bill that was set to be voted on by the end of the week meeting some uncertainty following President Trump and Elon Musk’s calls for drastic changes prior to the deadline looming Saturday. The bill had received a lot of attention in the Ag sector as it included measures for farmer direct payments citing Economic Disaster Relief.
The oilseed complex accelerated to the downside with contract lows across the bean complex. The old news is still the focus with a glut of supply to eat through despite how much USDA pushes demand higher.
The corn market leveled out last night following the sharp move lower yesterday. Wheat is hitting contract lows adding to the bearish sentiment in the market.
March KC Wheat is -4.25 @ $5.445
July ’25 KC Wheat is -3.75 @ $5.61
March Corn is even @ $4.3725
Dec’25 Corn is -1 @ $4.32
Jan’25 Soybeans +4.5 @ $9.5625
Nov’25 Soybeans +4.5 @ $9.7025
Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day!
Mike Hellman
580-532-5126
