Daily Ag Direction 3/28/25
Red across the board this morning with corn and wheat leading the charge lower. The funds move away from corn this week has seen the nearby May contract test its March lows and the net long has diminished to near neutral, with a potential to move to a net short position depending on how Monday's USDA planting intentions report gets traded. The selloff in corn can be attributed to ongoing tariff & policy jitters, compounded by global economic uncertainty and potential curtail of demand, and harvest in Argentina progressing well ahead of schedule at 19% complete vs 6% average. Wheat markets feeling spillover pressure from corn as funds' net short persists. Export sales not helping and weather models not offering any risk premium with Russia seeing moisture and at least the Euro models showing relief for US southern plains. Beans are a follower today after seeing a nice bump yesterday on biofuels buzz.
May corn is -6.5 at 4.43
Dec corn is -4.5 at 4.39
May beans are -6 at 10.10
Nov beans are -3 at 10.17
May KC wheat is -21 at 5.44
July KC wheat is -21 at 5.58
May Chi wheat is -13 at 5.18
July Chi wheat is -13 at 5.33
April feeders are -.850 at 286.700
April live cattle are -.750 at 208.800
If you have any questions, please reach out to your CEA Risk Management Advisor and have a great day!
Matt Hartwell (316) 617-0690
