Daily Ag Direction 01/10/2025
Grain markets are in position squaring mode in anticipation of the January WASDE report, due out at 11:00 am this morning. Beans are seeing follow through activity from spec fund buying which has put a bid under the market early on, but when the data dumps the focus will turn to export effects on the S&D ledger and any changes to Argentine production estimates. Corn is trading steady better with trade guesses leaning towards lower carryout numbers. Both corn and wheat saw disappointing export numbers this week, with corn below the range of trade guesses and wheat posting a marketing year low. It remains a good time to have working offers in place against unsold old crop, as report day volatility can offer pricing opportunities with narrow windows.
March corn is +1 at 4.57
Dec corn is -0.5 at 4.46
March beans are +6.5 at 10.05
Nov beans are +2 at 10.15
March KC wheat is -4 at 5.46
July KC wheat is -3.5at 5.63
March Chi wheat is -4 at 5.29
July Chi wheat is -4.5 at 5.50
Feb live cattle are -.325 at 197.95
Mar Feeders are +.50 at 268.775
If you have any questions, please reach out to your CEA Risk Management Advisor and have a great day!
Matt Hartwell
(316) 617-0690
