West Central Ag Grain Comments 05/02/25 10:24:34 AM
5/2/25
Good morning. Happy Friday. Markets are quietly higher in light volume at the CBOT to start Friday trade this morning, and are being helped by a sharply lower dollar index and also further optimism surrounding potential progress on some sort of trade deal with China. It's anyone's guess today as to whether any announcements with them or any other countries will be seen over the weekend, which means headline risk over the next 72 hours stays elevated. That said, we would remind our readers that it is the beginning of May and there is a long growing season ahead, which means there are any number of factors ranging from weather to politics that could significantly alter the market landscape over the next 4 months. Stay aware of potentially changing fundamentals, and have a plan in place should the market move sharply one way or the other. Corn futures to start Friday are unchanged to a penny higher, soybean futures are 2-3 cents higher, and the Chicago wheat market is up 6-8 cents. Products are mixed, soybean meal is up $2-3/ton, and soybean oil is down 40-50 points. Outside markets are mixed as well, with crude oil futures down 50-60 cents/bbl, the Dow Jones index up 170 points, and the US$ index down 50-60 points; the S&P500 is up 20 points and the NASDAQ is up 50 points. Gold futures continue to chop, and are up around $50/oz this morning after gapping higher on the open last night. |
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