Daily Ag Direction 9/23/25
Markets opened lower on Monday with a lack of substantive news from Friday’s call between Trump/Xi & Argentina announcing they will waive it’s 9.5% export tax on grains until October 31st with the goal of boosting foreign currency flowing into the nation.
As anticipated, corn ratings fell by 1 point, down to 66% G/E, still a point higher than last year andwell above 58% 5 year average. Harvest moved along from 7 to 11% this week, 13% below last year, but on par with the five year average.
After Argentina temporarily removed export taxes China bought 10-2 boats of soybeans. The US already wasn’t selling beans to China over the Oct/Nov/Dec shipment period, but the Arg. Tax move has nearly sealed the door and it looks like soybeans will need to operate on the assumption that exports will not be front loaded during harvest, but will need the full length of the marketing year. Soybeans dropped 2 point to 61% G/E which is 3 points below this time last year, but 3 points ahead of the five year average. Harvest moved up 4 points to 9% complete and like corn it’s slower pace than last year, but even with the five year average.
Similar to soy and corn harvest, recent rains have slowed HRW planting progress. This week we are 3% below the average of 23%. French wheat made new lows, but bounced off those in a similar fashion to the way US wheat is behaving today.
Markets as of 10:15 am
|
Contract |
Symbol |
Movement this session |
Price |
|
Dec 25 KC Wheat |
KEZ25 |
+5.5 |
5.08 |
|
July 26 KC Wheat |
KEN25 |
+5 |
5.56 |
|
December 25 Corn |
ZCZ25 |
+2.25 |
4.24 |
|
December 26 Corn |
ZCZ26 |
+1 |
4.60 |
|
November 25 Beans |
ZSX25 |
+1 |
10.11
|
|
November 26 Beans |
ZSX26 |
+3 |
10.63 |
Please reach out to your CEA Risk Management Advisor if you have any questions. Have a great day!
-Kavan Killian 806.753.7099 RMA TX/OK Panhandle
