Daily Ag Direction 1/16/2025
Weather takes the reins as forecasted moisture flow to the driest regions of Brazil and Argentina takes risk premium out of the soybean market and corn and wheat follow. Export sales picked up after a couple lackluster weeks, with wheat and corn coming in ahead of estimates and beans mid-range. Brazil's bean crop looms large and looks to stifle export opportunities when it hits the market. Row crops now back on the defensive with a head and shoulders on the bean charts. Wheat is up against lack of demand, low global FOB values, strong dollar, and lack of weather risk, but on the positive side, it did not run up as high as the row crops and looks safely rangebound on the charts. We will see how the day session closes, but looks like a corrective tone after the post-WASDE rally is setting in.
March corn is -3.5 at 4.75
Dec corn is -5.5 at 4.51
March beans are -16 at 10.26
Nov beans are -14 at 10.25
March KC wheat is -5.5 at 5.52
July KC wheat is -6 at 5.70
March Chi wheat is -4 at 5.42
July Chi wheat is -4 at 5.64
March Feeders are -2.05 at 267.75
Feb live cattle are -1.275 at 198.075
If you have any questions, please reach out to your CEA Risk Management Advisor and have a great day!
Matt Hartwell
(316) 617-0690
