Daily Ag Direction 07/07/25
Good Morning!
Duck and cover as wheat gaps lower following corn and beans. Corn yield estimates are starting to go wild as weather forecasts remain favorable across the corn belt. Weather forecasts earlier this year had corn growing regions remaining dry through this period and that was 180 degrees wrong. Brazil and Argentina corn/soybeans are also starting to hit the market and the overall fatigue has caused prices to collapse after the holiday. Unfortunately, this move lower is continuing to signal that producers need to be aggressive sellers on even small rallies. Spreads continue to leak out and fewer and fewer opportunities for any meaningful market rally are dwindling. Continue to target sales opportunities near $5.50 in wheat as the market continues to fail to march through that level. The Sept. contract low is at $5.15 and testing that is a possibility if the WASDE report this Friday is bearish.
Sept KC Wheat -11.0 @ $5.25
July 26 KC Wheat -12.5 @ $5.94
Sept Corn -12.4 @ $4.08
Dec 25 Corn -11.2 @ $4.25
Sept Beans -26.4 @ $10.15
Nov 25 Beans -27.0 @ $10.22
Aug Feeders +3.000 @ $312.500
June Live +1.500 @ $215.550
Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day!
-Trent
