Daily Ag Direction 4/9/25
Good Morning!
Wheat market saw some weakness in the overnight but has found a bid this morning. Wheat is trading weather and the seasonals but has also benefited from the weaker dollar and stronger corn and soybean markets. It will be interesting to see how we close as the trade looks to square away ahead of the USDA WASDE tomorrow morning.
Corn traded mostly higher overnight as it tries to push through the turmoil in the energy and equity markets. Bulls are hoping for a reduction in US carryout tomorrow with higher exports. The Eastern Corn Belt and Delta will see slower planting due to the flooding and heavy rainfall recently.
Soybeans are up this morning and seasonals suggest we trade sideways to lower as the US business dwindles and Brazil takes over the market. For now, Non-China buyers have stepped in to keep beans from becoming too bearish.
May KC Wheat is +4.75 @ $5.6625
July KC Wheat is +3.25 @ $5.7825
May Corn is +1.75 @ $4.7075
Dec Corn is +2.5 @ $4.4825
May Soybeans are +3.5 @ $9.9625
Nov Soybeans are +5 @ $9.8275
Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day!
Mike Hellman
580-532-5126
