3:05 PM: Good afternoon, this is Kluis Commodity Advisors with your closing grain comments for Monday, June 9, 2025.
To Do: We had no new recommendations today. We recommend keeping all other offers in place.
What I think: The grains closed the day lower in a slow day of news. Wheat led the way lower today as beneficial rains hit Canada and China over the weekend, as well as harvest pressure across North America. Corn was also lower today on favorable weather for the crop. July corn is approaching the contract low of $4.27 and this will be a critical area of support. Traders are waiting to learn of any developments from the meeting in London today with the US and China. The US dollar was lower today after treasury yields fell, while crude oil was supported by optimism over the trade talks.
What to watch: Monitor the weather across the Corn Belt and the US dollar.
Today’s markets:
July Corn: The trading range was 13 cents. The market closed down 9 cents at $4.33. The support for July Corn sits at $4.27 and resistance is $4.46.
July Soybeans: The trading range was 8 cents. The July contract closed down 1 cent at $10.56. Support is at $10.32 while resistance is up at $10.62.
July Wheat: The trading range was 18 cents. The Chicago market closed down 13 cents, Minneapolis was down 13 cents, and KC was down 12 cents on the day. The support for Chicago wheat is $5.26 and resistance is $5.58.
Outside markets: The US dollar index at this time is down .22 points, crude oil is up 77 cents per barrel at $65.35, the Dow is down 1 point and gold is up $2 an ounce.
Livestock futures: Trading was higher today. At this time, June Hogs are up 15 cents at $102.77, June Cattle were up 70 cents at $227.00, and August Feeders were up $1.50 at $311.65.
We will have our next update by 6 am tomorrow morning.