Daily Ag Direction 2/28/25
A tepid bounce in the overnight has given way to more selling this morning across the grains. With today being First Notice Day for March futures, an extra dose of volatility is to be expected. Markets are still reacting to Ag Forum numbers and March 4th tariffs looming at the forefront. Improvements in Argentine crop ratings and a seasonal pullback in exports are providing additional bearish fodder. The sum of these headlines have funds selling and the corrective downturn continues. Keep an eye on how things close today, as a retracement of the last month's gains is well underway. Wheat is providing one positive nugget of news going into the weekend with a CCC tender for 100k metric tons announced for April/May shipment which should be supportive for gulf basis values in the near term.
March corn is -11 at 4.53
Dec corn is -7 at 4.55
March beans are -9 at 10.13
Nov beans are -11 at 10.30
March KC wheat is -5 at 5.66
July KC wheat is -9 at 5.88
March Chi wheat is -1 at 5.45
July Chi wheat is -4 at 5.72
March Feeders are +1.100 at 277.550
April Live cattle are -2.20 at 193.975
If you have any questions, please reach out to your CEA Risk Management Advisor and have a great day!
