Daily Ag Direction 06/23/25
Good Morning!
A wild start to the week with grains taking it on the chin. Choppy trade overnight but a big selloff into the midday. The market doesn’t quite know what to do with the news that the U.S. bombed Iran nuclear sites. Crude opened higher in the overnights but sold off into the day session causing grains to follow suit. Harvest pace is picking up across HRW areas adding to pressure. Volatility has spiked increasing option values making it more difficult to strategize call option purchases after harvest. Some Russian and French wheat sold but the bigger news is a significant drop in open interest in Chicago and KC wheat. It could be short covering but the selloff today causes more questions. Good forecasts for corn growing regions adds to the risk off attitude and the market is definitely feeling a case of the Monday’s. Dec. corn is charging at support levels at $4.28. Beans following suit but it will be interesting to see how the corn/bean planted acreage comes out. Policy will continue to drive a bulk of the moves but today is altogether bad for the farmer and we will see if Turnaround Tuesday can reset things.
July KC Wheat -13.0 @ $5.50
July 26 KC Wheat -14.0 @ $6.24
July Corn -9.6 @ $4.19
Dec 25 Corn -7.2 @ $4.34
July Beans -8.2 @ $10.60
Nov 25 Beans -10.6 @ $10.50
Aug Feeders -0.850 @ $301.600
June Live -1.175 @ $221.850
Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day!
-Trent
