Grains Close Higher | Wednesday, April 9, 2025

May corn closed up 5¢ at $4.74 per bushel.

May soybeans ended the day up 20¢ at $10.12¾ per bushel.

May wheat contracts also closed up. CBOT wheat was up 2¼¢ at $5.42¼ per bushel. KC wheat was up 6½¢ at $5.68. Minneapolis wheat was up 7¾¢ at $6.08¾.

“It was another choppy day of trade, with commodity futures seeing both sides of unchanged,” said Karl Setzer, partner at Consus Ag Consulting. “A technical bounce and pre-WASDE short covering provided early market support, as did early gains in the outside markets.”

Tomorrow at 11 a.m. CT, USDA is expected to release the April World Agricultural Supply and Demand Estimates (WASDE) report. Read what one Grain Market Insider analyst said farmers need to know ahead of the report.

Setzer continued, “Early this morning, China announced retaliatory tariffs against the U.S., taking the total to 84% on all imports. This caused the indices to drop back into negative territory, erasing early gains in the ag sector. Later in the day, President Trump announced on social media that he would be pausing all reciprocal tariffs for 90 days, expect for China, who will now see its tariff go to 125%. This news created a sharp reversal in several markets as managed-money buying was quick to return, especially with indicators starting to lean towards oversold.”

June live cattle ended the day up $4.75 at $198.38 per hundredweight (cwt). May feeder cattle closed up $6.48 at $278.20 per cwt. June lean hogs closed up $1.93 at $91.70 per cwt.

Ahead of 3:30 p.m. CT, May crude oil was up $2.97 at $62.55 per barrel.

June S&P 500 futures were up 478 points. June Dow futures were up 3,004 points.

Published: 3:38 p.m. CT

Corn and Soy in the Green: 9:14 a.m. CT

Ahead of 9 a.m. CT, May corn was up 1½¢ at $4.70½ per bushel.

May soybeans were up 5½¢ at $9.98¼ per bushel.

May wheat contracts were mixed. CBOT wheat was down less than a penny at $5.39¼ per bushel. KC wheat was up 4¼¢ at $5.65¾. Minneapolis wheat was up less than a penny at $6.01¾.

This morning, USDA announced unknown destinations are buying 198,000 metric tons of soybeans for the 2024/2025 marketing year.

June live cattle were down 60¢ at $193.03 per hundredweight (cwt) ahead of 9 a.m. CT. May feeder cattle were up 15¢ at $271.88 per cwt. June lean hogs were up 5¢ at $89.83 per cwt.

May crude oil was down $1.99 at $57.59 per barrel.

The U.S. Dollar Index June contract was down to 101.95.

June S&P 500 futures were up 2 points. June Dow futures were down 115 points.

Published: 9:14 a.m. CT