Daily Ag Direction 9/26/2024
Good Morning!
Corn markets are slightly higher this morning. China has recent satellite images showing record corn yields. This is part of the reason why they are not buying US corn.
Wheat markets are up currently around the lower Black Sea acreage estimates. Russia officials are considering a list of more export curbs and this will certainly include wheat. This is in addition to Russian/Ukraine conflict and bomb threats.
The soybean market is higher this morning as weather maps offer little relief for the drier outlook for Brazil. Markets are also watching as the Chinese central bank is cutting rates and lowering reserve requirements.
Dec’24 KC Wheat +8.25 @ $5.8925
July ’25 KC Wheat +8.75 @ $6.175
Dec Corn is +3.25 @ $4.185
Nov Beans +6.5 @ $10.5975
Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day!