Daily Ag Direction 6/9/25
Good Morning!
Trade focusing on US/China trade talks going on in London today. China is reporting an uptick in imports for May with Soybean imports higher. Wheat markets selling off hard early in the session. Spreads are hanging in there allowing funds to defend their short position. Reports of concerning quality issues in Texas wheat but that should show up in spread and basis bids so don’t expect a large futures move on that information alone. Ukraine lowered wheat expectations to 21.7 mmt on dry weather. US spring wheat crop has issues due to dry weather so that will remain a point of concern. Corn markets are lower as well on good growing conditions despite difficulties in planting. Ukrainian corn expected to be down 8% compared to last year opening up opportunities for more US exports. Beans are holding onto a net long from funds as policy expectations dominate the bean complex.
July KC Wheat -12.0 @ $5..7
July 26 KC Wheat -12.0 @ $6.09
July Corn -5.4 @ $4.37
Dec 25 Corn -8.2 @ $4.41
July Beans -1.2 @ $10.56
Nov 25 Beans -4.6 @ $10.32
Aug Feeders -0.250 @ $309.900
June Live +0.075 @ $226.375
Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day!
-Trent
