Daily Ag Direction 2/13/25
Good Morning!
After almost 3 years of conflict between Russia and Ukraine, talks to end the war are set to begin after President Trump spoke to both Putin and Zelenskyy. This news saw wheat break some yesterday but the market is back up this morning on the cold temps and lack of snow cover seen in Nebraska, Kansas and Oklahoma. Wheat remains range bound in a consolidation pattern for now.
Corn saw a nice rally yesterday following the decline in global corn carryout, but the market has backtracked this morning. Producer selling has slowed for now with the sideways trade we’ve seen recently. Markets remain on high alert for any headline news regarding tariffs with more choppy trade action expected near term.
Tuesday's USDA report was ho hum for the bean market as beans have little new stories to drive the market. Brazil’s government agency CONAB slightly reduced the bean crop this morning. A dryness patter remains for 33% of the crops so we could see them take off more of the South American crops.
March KC Wheat is +9 @ $6.005
July KC Wheat is +9.25 @ $6.205
March Corn is -1.75 @ $4.885
Dec Corn is -1 @ $4.725
March Soybeans -1.25 @ $10.265
Nov Soybeans -1.75 @ $10.425
Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day!
Mike Hellman
580-532-5126
