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Daily Ag Direction 4/18/2024Good Thursday Morning! Wheat markets seeing some recovery this morning following yesterdays downtrend but still not much supportive news to drive the market. Chance of much needed rain for Oklahoma/Kansas this weekend but doesn't look to amount to much volume. Cheap Black Sea exports continue to keep a lid on the wheat market. The SRW crop still looks to be in great condition with record yields possible. Corn markets are down just a bit this morning. Some storms are projected for the central U.S. with some potential to slow planting down some. Seeing a much drier forecast for Brazil corn moving forward. Argentina corn farmers had high hopes for a great harvest this year after near perfect weather conditions but are now facing a plague of leafhopper insects. The insects are slashing production potential as they spread a disease on plants called spiroplasma. May KC Wheat +8.75 @ $5.815 July KC Wheat +9 @ $5.78
May Corn -1 @ $4.2925 Dec Corn -2.5 @ $4.6225
May Beans -5.75 @ $11.4375 Nov Beans -5.25 @ $11.56
April Feeder +.575 @ $241 April Live -.15 @ $180.75
Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day! |
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