3:05 PM: Good afternoon, this is Kluis Commodity Advisors with your closing grain comments for the week ending Friday, April 11, 2025.
To Do: We had no new recommendations this week. We recommend keeping all offers in place. Cash flows into the grain market as well as fund short-covering supported the grain markets today. One thing to note is that the bull spreads stopped working today and this might be a caution flag that this week’s rally is running out of steam. We also heard that basis for corn and soybeans widened out today as the futures market is going higher. The tariff war kept the outside markets volatile this week, and the US dollar will close below 100 for the first time since July 2023. Crude oil and the stock market were able to bounce back today on optimism that China will want to get a trade agreement put into place soon.
What I think: The grains closed out the week higher in a busy day of trade.
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 37 cents while closing up 30 cents for the week at $4.90.
May Soybeans: The trading range for the week was 75 cents with the contract closing up 66 cents for the week at $10.43.
May Wheat: The trading range for the week was 31 cents with the Chicago market closing up 27 cents, Minneapolis up 29 cents and KC up 11 cents for the week.
Crude oil: Closed the week down $6.53 to $62.61.
Dow: Closed the week down 3,269 points to 38,315.
US Dollar: Closed the week down 1.00 points to 103.01.
Livestock futures: Trading was higher today. At this time June Hogs are up 15 cents at $93.32, June Cattle are up $1.60 at $196.80, and May Feeders are up $3.40 at $278.70.
We will have our next update by 6 am Monday morning. Have a great weekend.