The Intertropical Convergence Zone is best known for its lack of _____...
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Grain Market Insight
Afternoon Grain Comments 04-29-25- StoneX reporting, “A convergence of technical signals, end-of-month positioning, and the CKCN roll led to an extreme in the corn market. Corn futures tread into 20-day lows, pulling nearly 30,000 contracts of Managed Money liquidation. The corn May to July spread found itself under liquidation pressure more and in contradiction to the delivery market calculations.” Rumors of an RVO announcement have been floating around, will need an official statement to have them really affect futures. China declared a goal of reducing its reliance on soybean meal by 2030, cutting percentages every year till then. Rain continues to be in the forecast for the north and southern plains, hopefully us in SWK will see some of that. Local weather reports show chances starting tomorrow. At the close, cash wheat was 11 cents higher, milo was 11 cents lower, corn was 16 cents lower and soybeans were 6 cents higher. Have a good evening.
Morning Grain Comments 4-29-2025 – The grain markets ended the night session mixed with wheat higher, soybeans lower, and corn steady. The StoneX Quick Editorial (QE) this morning stated “the spot May Chicago and KC wheat contracts are on the mend from lows yesterday but the grains remain uninspired overall, seeing headwinds from a steady-to-higher dollar and lower crude as well. U.S. corn and soybean planting is running roughly in line with expectations and last year and ahead of average, and will likely continue to do so into mid-May...” The crop progress report Monday afternoon showed the national winter wheat condition at 49% good/excellent, up 4-points from last week while the Kansas crop is at 47% g/e which is up 6 points from last week after nice rains in many parts of the state. Corn planting in the U.S. is 24% complete which is double what it was a week ago. Corn planting in Kansas is 39% complete, up from 27% planted last week. Soybean planting in the U.S. is 18% complete, up 10 points from last week with the Kansas soybean planting at 13% complete, up 8 points from last week. In world grain trade news, Jordan has tendered for up to 4.4 million bushels of milling wheat and MFG in South Korea reportedly purchased up to 2.4 million bushels of feed wheat in a private trade and purchased 2.6 million bushels of optional origin corn in their tender this week from South Africa, South America, or the U.S. At the end of the night session at 7:45 this morning, Kansas City May wheat was 2.75 cents higher, Chicago May corn was unchanged from Monday’s close, and Chicago May soybeans were 4.5 cents lower. Have wonderful day.
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Futures
@C - CORN - CBOT
Month
Open
High
Low
Last
Change
Close
Time
More
May 25
461'0
463'4
460'4
461'0
0'4
460'4
04:53A
Jul 25
470'6
472'0
468'4
469'6
-0'4
470'2
04:53A
Sep 25
435'0
436'4
432'6
433'4
-1'2
434'6
04:53A
Dec 25
445'0
446'0
442'2
443'0
-1'4
444'4
04:53A
Mar 26
460'2
461'0
457'0
458'4
-1'0
459'4
04:53A
May 26
469'4
470'2
466'4
467'4
-1'2
468'6
04:53A
Jul 26
475'0
475'4
472'6
474'0
-0'6
474'6
04:53A
Sep 26
460'4
460'4
458'2
458'6
-1'4
460'2
04:53A
@KW - HARD RED WINTER WHEAT - CBOT
Month
Open
High
Low
Last
Change
Close
Time
More
May 25
524'6
528'4
514'0
514'2
-9'4
515'2s
04:53A
Jul 25
531'6
533'4
527'2
531'2
0'2
531'0
04:53A
Sep 25
547'0
548'6
543'0
546'4
0'0
546'4
04:53A
Dec 25
571'0
572'6
567'2
571'2
1'0
570'2
04:53A
Mar 26
590'0
592'2
587'2
590'6
0'6
590'0
04:53A
May 26
600'2
602'2
598'0
601'4
1'2
600'2
04:53A
Jul 26
614'4
615'2
606'4
606'4
-10'0
606'0s
04:53A
Sep 26
617'0
617'0
613'4
613'4
-10'2
616'2s
04:53A
@S - SOYBEANS - CBOT
Month
Open
High
Low
Last
Change
Close
Time
More
May 25
1040'4
1042'4
1035'0
1035'0
-6'0
1041'0
04:53A
Jul 25
1052'4
1054'4
1044'2
1044'4
-8'2
1052'6
04:53A
Aug 25
1046'2
1047'6
1038'4
1039'0
-7'2
1046'2
04:53A
Sep 25
1022'6
1024'2
1014'4
1015'6
-7'2
1023'0
04:53A
Nov 25
1024'6
1026'2
1016'4
1018'0
-7'2
1025'2
04:53A
Jan 26
1037'0
1038'2
1029'0
1030'0
-7'2
1037'2
04:53A
Mar 26
1040'6
1042'4
1033'4
1034'4
-6'6
1041'2
04:53A
May 26
1048'6
1049'4
1041'4
1042'0
-7'0
1049'0
04:53A
@LE - LIVE CATTLE - CME
Month
Open
High
Low
Last
Change
Close
Time
More
Apr 25
215.850
217.025
215.750
216.325
0.700
216.350s
04/29
Jun 25
209.600
210.975
209.600
210.175
0.600
210.200s
04/29
Aug 25
205.225
206.625
205.200
205.700
0.350
205.675s
04/29
Oct 25
203.000
204.250
202.975
203.200
0.150
203.275s
04/29
Dec 25
202.825
203.950
202.775
202.925
0.175
203.075s
04/29
@GF - FEEDER CATTLE - CME
Month
Open
High
Low
Last
Change
Close
Time
More
May 25
292.075
294.800
292.075
293.850
2.225
294.025s
04/29
Aug 25
295.000
297.800
295.000
296.825
1.950
296.900s
04/29
Sep 25
294.250
296.575
294.250
295.450
1.525
295.600s
04/29
Oct 25
292.600
294.550
292.475
293.325
1.325
293.525s
04/29
Nov 25
290.000
291.750
290.000
290.725
1.150
290.850s
04/29
My Custom Markets
Symbol
Open
High
Low
Last
Change
Close
Time
More
Map
This Day In History
April 30, 1969
Cin Red Jim Maloney 3rd no-hitter beats Houston Astros, 10-0