Daily Ag Direction 3/6/25
Good Morning!
Corn futures seem to be finding a short term floor near the 200-day. President Trump declaring that tariffs are still on but he did grant automakers a 1 month reprieve. Canadian potash will see a 25% tariff which is worth noting as 90% of our imports come from there.
Wheat opened higher overnight and was able to sustain into the close. Not many new headlines for wheat as the market rebounded after multiple lower closes. Some hope out there that tariff war with Canada and Mexico will get worked out in the short term.
The soybean market was up following 5 consecutive lower closes. The trade continues to process the potential impact of tariffs with volatility high as political policies can change fast. Weather in Brazil turns less favorable as rainfall has been spotty and temps have been above average.
May KC Wheat is down a quarter penny @ $5.5675
July KC Wheat is down a half penny @ $5.7075
May Corn is -1.25 @ $4.545
Dec Corn is -3.25 @ $4.435
May Soybeans are +6.25 @ $10.18
Nov Soybeans are +2.75 @ $10.1225
Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day!
Mike Hellman
580-532-5126
