Daily Ag Direction 3/14/25
KC wheat is the bright spot in the grain complex this morning, as a round of buying turned the market upward in the overnight session. The 200 day moving average at 6.05 on the July KC is a resistance point that, if cleared, could open the door to some more fund short covering. Weather and spreads are the key features with the wheat markets as VSR calculations will key in on the May-July spreads next week. Forecasts continue to show warm, windy, and dry across a good swath of the wheat belt. Beans starting the day looking steady and content to consolidate after holding that double bottom around $10 on the nearby May contract this week. Corn is looking less stable, with nearby contracts backsliding after yesterdays rebound. The 200 day moving average is in focus for corn as well, as a breach of 4.55 could open the door to retracing to recent lows. Overall, though, tariff trade notwithstanding, corn and beans' path of the least resistance is to consolidate ahead of the March 31 USDA report.
May corn is -7 at 4.58
Dec corn is -3 at 4.49
May beans are -3 at 10.07
Nov beans are even at 10.11
May KC wheat is +3 at 5.90
July KC wheat is +3 at 6.03
May Chi wheat is -2 at 5.60
July Chi wheat is -1 at 5.77
March Feeders are -0.775 at 279.450
April live cattle are -0.825 at 201.225
If you have any questions, please reach out to your CEA Risk Management Advisor and have a great day!
Matt Hartwell (316) 617-0690
