Daily Ag Direction 11/7/2024

Good Morning!

Markets are mixed this morning after stabilizing yesterday following the open selloff over worries of the Trump Tariffs. Now the question turns to are the global buyers trying to front run the tariffs?

Rains forecasted for all of Oklahoma, Kansas and Colorado beginning tonight and into the weekend. Weather for Argentina remains dry for the next 15 days while Brazil remain wet for the most part.

Markets now await the November WASDE report that will be out tomorrow. Markets aren’t anticipating any major changes in the report.

Dec’24 KC Wheat is -9.75 @ $5.6425

July ’25 KC Wheat is -8.25 @ $5.9475

Dec’24 Corn is -3 @ $4.2325

Dec’25 Corn is  -2.25 @ $4.435

 Nov’24 Soybeans +1.75 @ $9.9625

Jan’25 Soybeans +5.5 @ $10.0925

Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day!

Mike Hellman

580-532-5126

Posted on Nov 07 at 09:05