Eddyville

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Market Commentary 05/19/2025

Corn and soybeans started the day out slow before finding strength to close higher on the day. Corn Found support as export inspections came in strong and above the needed pace to hit the USDA Export goals. Corn planting came in at 78% complete versus a guess of 79%. Eyes continue to be on the Ohio River Valley as they are way behind on planting progress, and they continue to get rain. Argumenta’s harvest pace is also being watched as they continue to get heavy rains that is slowing harvest down. Soybean planting progress came in at 66% completed versus a guess of 65%, and well ahead of the 5-year average of 53%. Soybeans and the complex are still waiting on more clarity on the 45Z tax credit program. Soybean exports were under the needed pace last week to hit the USDA’s projections. The Funds have now sold off almost their entire Long Position for Corn and are now thought to be short almost 80,000 contracts. A Major storm system moved into the dry areas of the western corn belt last night, and will continue across Iowa today/tonight, bringing much needed rain to these areas. Live and Feeder Cattle ended the day mixed after posting a major downward correction last week. Many believe the top is in for now as both contracts face technical resistance. Fundamentally, the demand is still there, and the supply is still thin. July Corn futures seem to be stuck in a 4.40 – 4.50 range for now. The markets will be closed Monday the 26th for Memorial Day. Have a good evening!

Have a price target in mind for your next sale? Using firm bid offers are a great way to capture volatility during the busy planting season!

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