Daily Ag Direction 5/1/25
5/1/25
Good morning!
New crop corn and wheat futures found support in the overnight & into the start of the day session before dropping lower. Strong demand for old crop corn while it's on sale is continuing to show up as export sales last week were middle of trader’s estimates at 1,014.4k tons. New crop corn exports offered a nice surprise with 244.7k tons last week, above the 0-200k tons range of estimates. Soybean weekly sales were also middle of the range. Despite the ongoing trade war China continues to be a buyer of US beans, however, uncertainty is still in the air with little news on trade deal progress with the #1 buyer of US soybeans. 7 day forecasts looks to bring more rain to the previously dry parts of TX/OK/KS, small planting delays to the east/south corn belts, and a dry planting window for a north/west Midwest.
|
Contract |
Symbol |
Movement this session |
Price |
~Resistance |
~Support |
|
July 25 KC Wheat |
KEN25 |
Down 4 |
5.35 |
5.50 |
5.35 |
|
July 25 Corn |
ZCN25 |
Down 4 |
4.71 |
4.80 |
4.70 |
|
December 25 Corn |
ZCZ25 |
Down 1.5 |
4.49 |
4.55 |
4.44 |
|
July 25 Beans |
ZSN25 |
Down 2 |
10.42 |
10.50 |
10.30 |
|
November 25 Beans |
ZSX25 |
Flat |
10.22 |
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
