Daily Ag Direction 11/25/24
Good Morning!
Paris wheat gaps lower this morning bringing US markets with it. The Black Sea region is seeing improved moisture along with the market lacking bullish news is allowing markets to add shorts for the time being. Corn is being dragged along with wheat and is seeing lower export activity and will test the $4.17 level before finding a lot of support. Markets will likely have another layer of unpredictability as the Thanksgiving holiday gives us a shortened trading week. Trade is closed Thursday and closes at 12:05pm Friday. Soybeans continue to trade on lower yield risk from Brazil and Argentina and unexciting demand information. However, beans are currently up slightly to start the week.
Dec KC Wheat -10.2 @ $5.44
July 25 KC Wheat -10.2 @ $5.70
Dec Corn -1.4 @ $4.24
Dec 25 Corn -2.4 @ $4.34
Jan Beans +2.0 @ $9.85
Nov 25 Beans +2.6 @ $10.11
Mar Feeders +1.175 @ $254.300
Feb Live +0.200 @ $188.400
Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day!
-Trent