Daily Ag Direction 3/31/25
Futures mostly flat to start the day the market has been waiting for the last two weeks of a sluggish & range bound trade. The USDA Acreage and Stocks report drops today at 11am & export inspections at 10am to start off the party. Average analyst guess at 94.4m acres of corn is slightly larger than the 94.0m ac USDA suggested last month. Fund selling last week was likely connected to a belief acres might be larger than that & to get out ahead of the April 1st tariff deadline bringing the fund position down to an estimated net long of 57k contracts. A weather system is moving over the central US and bringing rain to nearly ¾ of wheat growing areas over the next 10 days. Below is the range of trader guesses for plantings & stocks
|
2025 Plantings |
|||
|
Commodity |
Avg. Trade Est. (acres) |
Range of trader guesses (acres) |
2024 (acres) |
|
Corn |
94.4m |
92.5 – 96.6m |
90.6m |
|
Soybeans |
83.8m |
82.5-85.5m |
87.1m |
|
All Wheat Classes |
46.5m |
45.4-47.1m |
46.1m |
|
Stocks as of Mar. 1 |
|||
|
Commodity |
Avg. Trade Est. (bushels) |
Range of trader guesses (bushels) |
2024 (bushels) |
|
Corn |
8.154 b |
8.060-8.310 b |
8.352 b |
|
Soybeans |
1.905 b |
1.823-2.015 b |
1.845 b |
|
All Wheat Classes |
1.221 b |
1.169 – 1.260 b |
1.089 b |
Markets as of 9:30am
Dec 25 Corn @ 4.41 -3.5 for the day
Nov 25 beans @ 10.31 +2.5 for the day
July 25 KC Wheat @ 5.67 +1 for the day
I’ll be sending out the results when they are available. Hold on to your hats today, this market may get windy!
-Kavan Killian RMA TX/OK Panhandle
