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Daily Ag Direction 11/7/2024Good 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 |
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