Daily Ag Direction 5/9/25
Short covering across the grain board on the open this morning, after this week has seen the funds rapidly erase their length in corn, add to short positions in wheat, and flip back to neutral in the soy space. Trade/tariff talks with China and others are a prompt for this short covering, along with the notion that the beat down market is due for a bounce and maybe a bit of nervous position squaring ahead of the weekend with USDA's monthly WASDE report due out next Monday morning. Wheat tried to catch some uplift from the Paris exchange but that faltered following the open. Near ideal planting weather in US and harvest weather in Argentina is keeping pressure on the corn market. Beans seeing a technical bounce after testing support early and mid-week, aided by trade talk buzz with China and possibilty of tighter numbers in Monday's report.
July Corn is +4 at 4.51
Dec Corn is +3.5 at 4.42
July beans are +6 at 10.51
Nov beans are +3.5 at 10.28
July KC wheat is -2.5 at 5.22
July Chi wheat is -3 at 5.26
August Feeders are +.025 at 301.275
June live cattle are +.475 at 214.725
If you have any questions, please reach out to your CEA Risk Management Advisor and have a great day!
Matt Hartwell (316) 617-0690
