Daily Ag Direction 3/13/25
Good Morning!
Wheat markets are higher this morning after the strength seen yesterday. Market is back to trading weather and funds. Market is also seeing some support from good export sales this morning.
The corn market has seen a decent bounce this morning following the selloff yesterday on the news of the new tariffs enacted against the U.S. Funds were an estimated seller of 10k contracts leaving them net short just shy of 240k contracts. The demand story on corn remains, but markets are having a tough time with the uncertainty surrounding tariffs and true effect on US grain moving forward.
The soybean market is up this morning. Brazil increased their bean crop by 1.3mmt which was offset by Rosario lowering the Argentine bean crop about the same. Not much talk of exports with Brazil capturing most of China’s imports.
May KC Wheat is +17.25 @ $5.9025
July KC Wheat is +16.25 @ $6.03
May Corn is +10.5 @ $4.6925
Dec Corn is +5 @ $4.5325
May Soybeans are +16.75 @ $10.1725
Nov Soybeans are +12.5 @ $10.19
Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day!
Mike Hellman
580-532-5126
