Daily Ag Direction 4/28/25
Trade opened lower in the ovenight session based on widespead rains falling across US Southern Plains with more to come in the next two weeks. While the beneficial moisture is most impactful for wheat, the selloff, which is further aided by Paris wheat futures pressing contract lows today, is spilling over to corn and beans. Corn futures also being adversely affected by favorable planting conditions in the corn belt, where this afternoon's crop progress report should see plantings pass the 20% mark and forecasts look accomodating for another strong week ahead. Cargill reporting Brazil's Safrina corn crop is in stellar shape with ongoing favorable weather adding pressue on the market. On the bean front, last week's enthusiasm led to consecutive closes above the 200 day moving average @ $10.50 on the July, which is now looking like the support to be tested amid spillover weakness.
May corn is -6 at 4.72
Dec corn is -7.5 at 4.48
May beans are -8 at 10.41
Nov beans are -7 at 10.27
May KC wheat is -17 at 5.21
July KC wheat is -16.5 at 5.34
May Chi wheat is -17.5 at 5.12
July Chi wheat is -16.5 at 5.28
May Feeder cattle are +1.725 at 292.250
April live cattle are +0.650 at 214.900
If you have any questions, please reach out to your CEA Risk Management Advisor and have a great day!
Matt Hartwell (316) 617-0690
