FROM ALL OF US AT TOTAL FARM MARKETING, HAVE A HAPPY AND PROSPEROUS NEW YEAR!
TUESDAY, DECEMBER 31: The CME has regular trading hours, and Total Farm Marketing offices will close at 3:00 p.m. (CT).
WEDNESDAY, JANUARY 1: The CME and Total Farm Marketing offices are closed.
CORN
- Corn prices fall at midday. A higher close today would mark the corn market’s seventh consecutive daily gain.
- Expanding dryness in Argentina and northern Mexico is boosting the market, with no relief expected in the forecast for the next two weeks.
- Ethanol’s average daily production for the week of December 20th was 1.107 mb, a 0.4% increase from the previous week, but unchanged compared to the same period last year.
SOYBEANS
- Soybeans are trading lower at midday, with soybean meal posting gains, while soybean oil is experiencing a decline.
- USDA confirms the sale of 23,000 tons of U.S. soy oil for delivery in India in 24/25 year.
- Widespread rain showers continue across central Brazil, creating favorable conditions for the filling of soybean pods. However, a below-average rainfall forecast in Argentina raises concerns for the later stages of the growing season.
WHEAT
- All three wheat classes are trading lower at midday, despite recent revisions that lower supply expectations in Russia.
- Colder temperatures moving across the Plains and last week’s large purchases by Algeria and Egypt could provide additional price support to the wheat markets.
- Wheat prices are gaining support from recent international demand and expectations of lower supply in Russia. Consultant Sovecon forecasts a 17% drop in Russia’s wheat exports for the 2025/2026 season, as weather conditions for winter wheat deteriorate in Russia’s central and Volga regions.
- According to the Buenos Aires Grain Exchange, the wheat harvest in Argentina is 88.5% complete.
Author
Lauren VandenLangenberg