Daily Ag Direction 4/11/25
Green is on the screen coming out of overnight trade. Corn seeing follow through buying after yesterday's favorable USDA S&D report which saw improved export numbers (+100 mil bushels) take ending stocks below 1.5 bil bu and carryout-to-use under 10%. The nearby May contact trading in a mid-4.80 range that it hasn't seen since pre-March tariff jitters took hold. It is notewothy, though, that this bump in corn comes amid very light Open Interest, which undermines the case for a sustained rally and looks more like short position liquidation at this point. Wheat catching a nice bid on weather concerns, as forecast has turned to the dry side for much of the HRW belt. Despite a bearish WASDE report, a weaker dollar and a late rally in Paris wheat has both Chicago and KC up double digits this morning. Beans are a follower this morning, with weak export demand and plenty of uncertainty surrounding the tariff picture with China and what the future holds for biofuel-driven domestic demand.
May corn is +5 at 4.88
Dec corn is +3 at 4.57
May beans are +1 at 10.30
Nov beans are +5 at 10.10
May KC wheat is +15 at 5.73
July KC wheat is +14 at 5.87
May Chi wheat is +15 at 5.53
July Chi wheat is +14 at 5.67
April feeders are +.050 at 282.825
April live cattle are +.400 at 201.250
If you have any questions, please reach out to you CEA Risk Management Advisor and have a great day!
Matt Hartwell (316) 617-0690
