3:05 PM: Good afternoon, this is Kluis Commodity Advisors with your closing grain comments for the week ending Thursday, April 17, 2025.
To Do: We had one new recommendation this week – please review it in the weekend report. We recommend keeping all offers in place.
What I think: The grains closed out the week mostly lower in a slow day of trade with corn and soybeans lower and wheat mixed. Th weekly Grain Export Sales report this morning was impressive for corn and soybeans, but disappointing for wheat. Nearby corn and soybeans are setting up bullish flag patterns on the charts and it will be important to see where they open up on Sunday night. Crude oil was higher today on supply tightening, with the stock market mixed and the US dollar slightly higher.
What to watch: Monitor the tariff talk over the weekend and where the markets open on Sunday night.
This week’s market action:
May Corn: The trading range for the week was 11 cents while closing down 8 cents for the week at $4.82.
May Soybeans: The trading range for the week was 21 cents with the contract closing down 7 cents for the week at $10.36.
May Wheat: The trading range for the week was 19 cents with the Chicago market closing down 7 cents, Minneapolis down 10 cents and KC down 11 cents for the week.
Crude oil: Closed the week up $2.75 to $64.32.
Dow: Closed the week up 827 points to 39,142.
US Dollar: Closed the week down .55 points to 99.38.
Livestock futures: Trading was higher today. At this time June Hogs are up 7 cents at $98.02, June Cattle are up $2.00 at $204.07, and May Feeders are up $2.45 at $286.85.
Reminder: the markets are closed tomorrow for Goof Friday and will re-open on Sunday night.
We will have our next update by 6 am Monday morning. Have a great weekend.