Daily Ag Direction 4/29/25
4/29/25
Good morning!
Mixed day starting out as commodities are down while cattle & USD are higher. Weather maps are indicating warm and dry for a good portion of the corn belt that is encouraging for future planting progress. USDA is reporting corn planting at 24%, just ahead of 5 year average of 22%, but behind LY at 25%.
Soybeans are showing 18% planted, ahead of 17% LY this time & 12% 5 year average. China’s Ag ministry has announced a plan to cut back on animal feed usage reducing the inclusion of soybean meal to 10% from 14.5% in 2022. To achieve this goal of reducing reliance on soybean imports they’ll be focused on supporting forage, food waste and other proteins.
Recent rain & the future forecast has crop conditions raining with OK/KS/TX HRW all reporting better crop conditions than last week & about on par with last year or higher. KC HRW & Chicage SRW both making new July lows on Monday. Wheat bounced on some buying in the overnight, but as of this typing the bids fell flat and are back to the lows of yesterday.
|
Contract |
Symbol |
Movement this session |
Price |
~Resistance |
~Support |
|
May 25 KC Wheat |
KEK25 |
Down 3 |
5.21 |
5.30 |
5.20 |
|
July 25 KC Wheat |
KEN25 |
Down 4 |
5.35 |
5.50 |
5.35 |
|
May 25 Corn |
ZCK25 |
Down 9 |
4.66 |
4.80 |
4.65 |
|
December 25 Corn |
ZCZ25 |
Down 5 |
4.44 |
4.55 |
4.44 |
|
May 25 Beans |
ZSK25 |
Down 12 |
10.39 |
10.48 |
10.30 |
|
November 25 Beans |
ZSX25 |
Down 11 |
10.26 |
10.35 |
10.20 |
Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day!
-Kavan Killian 806.753.7099 RMA TX/OK Panhandle
