Daily Ag Direction 4/16/25
Good Morning!
The wheat market overnight trade started lower, but early-morning buying provided support as a weaker USD and heavy rainfall in the east raised concerns about flooding in SRW areas and potential delays in spring planting. Updated rain forecasts indicate reduced coverage for Kansas, which may lend some strength to KC wheat prices. Cash markets remain weak, and with limited demand from Mexico, finding buyers for old crop wheat could prove challenging.
Corn experienced mixed trading overnight before rebounding into the break, with old crop recovering yesterday’s losses. Farmer selling has been light, and estimates suggest funds sold off just 4,000 contracts yesterday. Fundamentals remain sparse and the trading week is shortened, with markets closed on Friday in observance of Good Friday.
May KC Wheat is +6.25 @ $5.5925
July KC Wheat is +4.5 @ $5.73
May Corn is +4.25 @ $4.855
Dec Corn is +4.5 @ $4.6875
May Soybeans are +6.75 @ $10.4275
Nov Soybeans are +4.75 @ $10.345
Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day!
Mike Hellman
580-532-5126
