Bill Moore
William Moore's market views are centered around his many relationships with Agricultural producers. His weekly newsletter, AGMASTER, provides a blend of fundamental & technical information used to make prudent hedging decisions. Contact Mr. Moore at (312) 264-4337
AgMaster Report – 04/10/2025
MAY CORN
May Corn has displayed impressive bullish divergence – rallying 30 cents off its trading range lows – despite the tariffs, the DJI collapse & a weak crude oil mkt – mostly on the back of its price competitiveness globally – as US Corn is the cheapest anywhere! Today all the Ag Mkts are getting a boost from a general Macro recovery as the DJI has rallied to over 1000 points higher! We’re recommending at-the-money July Corn Calls – corn is cheap, exports are 30% over 2024 & much of the corn-planting areas are running dry! Please respond to my phone/email if you have an interest!
MAY BEANS
A potential Argentine dock strike & a Macro Mkt turn-around have halted May Beans 60 cent slide of the China Tariffs! It appears the mkt has dialed in the Trump tariffs & is awaiting weather news as early planting has commenced in some areas! Also the possibility of negotiation of the tariffs with China looms – which would mitigate their effect! Plus technical support comes in at the 960-980 level!
MAY WHT
Various weather infirmities including floods, hot temps & hard freezes have afflicted the wht mkt – adding support! US Spring Wht is 3% in & Winter Wht’s gd-ex is only 48%! SovEcon predicts its exports at 1.9mmt (ly-4.8)! Plus the general Macro Recovery has helped May Wht to rally – as well as its “Sister Mkt’s” May Corn & Beans!
JUNE CAT
Clearly, the Trump Tariffs put a top into the cattle mkt – that had already risen to record levels anyway! So the mkt has broken $12 (206-194) as recession/inflation fears have pundits questioning demand! However, we’re entering the best demand period of the year – the grilling season – and that should begin to support the mkt! As well, the Macros are recovering today – as they begin to dial in the tariffs!
JUNE HOGS
Much like Jun Cat, June Hogs have dropped sharply in the wake of the Trump Tariffs, (96-90), but the calendar is on their side – as the outdoor grilling season is upon us & demand should begin to flourish! Also, today the Macros has recovered somewhat – helping to support pork & beef! The tariffs appear to be coming baked in plus the chance for negotiation between the US & the tariff nations is always on the table!
Questions? Ask Bill Moore today at 312-264-4337