Daily Ag Direction 5/7/25
Good Morning!
The corn market showed signs of life overnight, with prices briefly climbing above the 200-day moving average of $4.61 ¼ following news of an upcoming meeting between U.S. and Chinese officials. However, values quickly retreated as traders recognized that resolving the trade war would not be a swift process, especially given China’s previous failure to uphold its commitments. Forecasts for Brazil indicate increased rainfall in the southern regions, while northern areas are expected to remain dry.
Wheat saw a boost overnight following positive U.S.-China trade discussions but has since retreated heading into the morning session. At yesterday’s annual meeting, Oklahoma Grain and Feed released its wheat production estimate, projecting 101 million bushels with a yield of 35.9 bushels per acre. The crowd estimate came in slightly higher at 103 million bushels. Last year’s production was reported at 108 million bushels.
May KC Wheat is -4.75 @ $5.20
July KC Wheat is -2.75 @ $5.3525
May Corn is +5.75 @ $4.5325
Dec Corn is +4 @ $4.4525
May Soybeans are +10.25 @$10.45
Nov Soybeans are +10.75 @ $10.30
Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day!
Mike Hellman
580-532-5126
