Daily Ag Direction 4/23/25
Good Morning!
Scattered rains swept across the central region yesterday and persist this morning. Precipitation activity is expected to intensify in the South today, expanding through the Plains and Midwest on Thursday and Friday. A similar weather pattern will unfold over the weekend, with increased storm activity anticipated early next week. While extended forecasts show some variability today, the trend still leans toward a wetter-than-normal outlook through the first week of May, accompanied by consistently warm temperatures.
Meanwhile, Argentina remained dry yesterday. Light rains are forecasted from Friday through Sunday, followed by a return to dry conditions next week, which should aid harvest efforts during the 6-10 day period.
Overnight trading was mixed, with some buying interest emerging after lower closes in U.S. markets. Paris wheat initially opened higher but later retreated, dragging U.S. markets down into the morning break. While wheat could see support from broader macroeconomic trends, the U.S. dollar is also moving higher, counteracting some potential market gains. The recent dip in the USD has been one of the few bright spots for the markets.
The corn market appears poised to deepen its losses from yesterday, with overnight values trending mostly lower. A slight softening in Trump's stance toward China and discussions of a potential U.S.-Japan trade deal have sparked some optimism. However, traders remain cautious, awaiting concrete developments to better assess the potential impact on futures.
May KC Wheat is -3.25 @ $5.4275
July KC Wheat is -3.75 @ $5.545
May Corn is -2.75 @ $4.73
Dec Corn is -3.25 @ $4.5475
May Soybeans are +3 @ $10.38
Nov Soybeans are even @ $10.265
Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day!
Mike Hellman
580-532-5126
