Tuesday, April 15th, 2025, 4:50 AM CST BY: Cole Raisbeck
This is Kluis Commodity Advisors with your opening grain comments. Grain markets closed mostly lower to start the week. Wheat led the way down, with Chicago Wheat falling 6 to 8¢ and KC Wheat down 11 to 13¢. Corn closed 4 to 5¢ lower in the nearby contracts and 1 to 2¢ lower in the deferred months. Soybeans finished mixed, with nearby contracts down 1 to 3¢ and closing 8 to 9¢ off yesterday’s highs, while deferred contracts ended 1 to 3¢ higher.
Monday’s Crop Progress report showed corn planting at 4%, soybean planting 2%, spring wheat planting at 7%, and winter wheat conditions were rated 47% good to excellent
We will not publish a morning update on Good Friday, since markets will be closed. Thursday’s updates will go out as normal.
TO DO: Yesterday, July 2025 Soybeans hit our sales target of $10.58. We recommend increasing cash soybean sales by 10%, bringing total sales to 70% sold.
PRICE TARGETS:
You can click here to review our current and updated price targets.
WHAT WE’RE THINKING:
We saw another flash sale of corn announced yesterday, adding to the two soybean flash sales and one corn sale from last week. Corn inspections were strong again yesterday, supporting the positive export tone. The US Dollar Index declined sharply at the end of last week and is still trading below par, which is helping make US grain more competitive globally. If the dollar remains weak, then we could continue to see solid export demand support the market.
WHAT TO WATCH:
Last week, corn and soybeans posted strong gains. After closing off their highs yesterday, if the markets continue to consolidate at these higher levels, I’ll be watching the 2-day low from Friday’s session as a key support level.
MARKETS:
Overnight Markets
May Corn: The trading range is 4¢; the last trade shows corn futures are up 3¢ at $4.87per bushel.
May Soybeans: The trading range is 7¢; the last trade shows prices down 5¢ at $10.36.
Wheat: Chicago: wheat is down 1¢, KC wheat futures are down 4¢, Minneapolis wheat is down half a cent.
Global Stock Markets: The stock market in China is up 0.15%, while stocks in Japan are up 0.84%. European stocks are up 0.94%.
Outside Markets: The US Dollar Index is down 0.02 at 99.63, crude oil is down 45 cents per barrel at $61.11, S&P futures are up 11points at 5443.25, Dow futures are up 48 points at 40,725 and gold futures are up $11.20 at $3,238.00
Livestock Futures: Livestock trade was higher yesterday. June Hogs were up $1.80 at $95.12, June Cattle were up $2.27 at $199.07, and May Feeders were up $2.25 at $280.95
TODAY’S CHART: November Soybeans
About this chart:
The November 2025 Soybean contract opened lower on “Liberation Day” after Trump’s tariff announcement, leaving a gap and trading down to a low of $9.71’2 on April 9. The market moved higher last week, and yesterday’s trade filled the gap. Near-term resistance is the April highs ($10.40). The market closed off its highs yesterday, and the 100-day moving average (the blue line) at $10.23 may act as support if the market consolidates.