Daily Ag Direction 9/25/2024
Good Morning!
The wheat markets traded both sides overnight after failing to hold gains yesterday. While corn and beans set back from recent highs, wheat remains in limbo, well off the recent highs as we lack a fundamental reason for values to move much higher. Weather remains a problem for most of the world whether you are harvesting or planting.
Soybean futures are lower this morning following the $1/bu run. Its no surprise we would see pressure following the farmer selling. Brazil remains the largest risk to trade but perhaps an overreaction to the Chinese stimulus.
Dec’24 KC Wheat -2 @ $5.69
July ’25 KC Wheat -1.25 @ $5.9775
Dec Corn is -1 @ $4.1075
Nov Beans -3 @ $10.3925
Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day!