West Central Ag Grain Comments 06/30/25 9:24:00 AM
6/30/25
Good morning. And welcome to another USDA data day. Ag futures at the CBOT are mixed this morning ahead of the much anticipated quarterly stocks and acreage figures that are due out from the USDA later today, while weekend news was otherwise again filled with trade-related/geopolitical headlines, topped by Canada. President Trump indicated late last week that trade talks with our northern neighbor had been shut down over certain technology taxes, only for Canadian officials over the weekend to withdraw the tax in order to restart discussions. While the markets don't seem overly jittery about the situation this morning, it also underscores the looming July 9th tariff deadline, which is now just six trading sessions away; this would lead us to believe headlines regarding trade deals (or the lack thereof) will likely be elevated this week and into next. Corn futures to start the new week are trading unchanged to 4 cents lower, soybean futures are trading 1-3 cents higher, and the Chicago wheat market is trading 1-3 cents lower. Products are mixed, soybean meal is down 50 cents/ton, and soybean oil is up 30-40 points. Outside markets are also mixed, crude oil futures are down around 20 cents/bbl, the Dow Jones index is up 250 points, and the US$ index is down 20-30 points; the S&P500 is up 30 points and the NASDAQ is up 150 points |
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