Daily Ag Direction 5/8/25
Good Morning!
Wheat trade mixed overnight, with early buying interest tapering off by the morning break. Markets remain rangebound for now, as favorable weather in some areas offsets concerns elsewhere. Overall supply is ample, but stronger demand is needed to move prices meaningfully. One key factor to watch is the Wheat Quality Council tour of Kansas, especially with increasing reports of wheat streak mosaic and other potential diseases beginning to affect crops in western Kansas and Oklahoma.
Soybeans eased lower yesterday after showing some overnight strength, driven by news that the U.S. and China are set to hold trade talks this weekend in Zurich. While no major developments are expected until late Saturday or Sunday, agricultural purchases would likely be part of any near- or long-term agreement. The bottom line for soybeans remains unchanged: South American supplies are ample to meet global demand, and the U.S. crop is progressing well.
May KC Wheat is +2 @ $5.195
July KC Wheat is -4.5 @ $5.25
May Corn is -4.75 @ $4.3625
Dec Corn is -4.25 @ $4.365
May Soybeans are +4.75 @ $10.3525
Nov Soybeans are up a half penny @ $10.2250
Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day!
Mike Hellman
580-532-5126
