HAPPY THANKSGIVING FROM ALL OF US AT TOTAL FARM MARKETING!
THURSDAY, NOVEMBER 28: The CME and Total Farm Marketing offices are closed.
FRIDAY, NOVEMBER 29: The CME closes at noon, and Total Farm Marketing closes at 1:00 p.m. (CST).
All prices as of 10:30 am Central Time
Corn
DEC ’24
422
-2.75
MAR ’25
429.5
-3.5
DEC ’25
430.25
-2.25
Soybeans
JAN ’25
980
-5.75
MAR ’25
990
-4.25
NOV ’25
1009
-1.5
Chicago Wheat
DEC ’24
538.25
2.5
MAR ’25
557.5
1.75
JUL ’25
574.5
2
K.C. Wheat
DEC ’24
551.5
5
MAR ’25
559.25
2.25
JUL ’25
572.5
2
Mpls Wheat
DEC ’24
583.75
2.75
MAR ’25
602
5.5
SEP ’25
630
6
S&P 500
DEC ’24
6022.5
16
Crude Oil
JAN ’25
69.49
0.55
Gold
JAN ’25
2643.6
13
Corn has pulled back at midday as the market digests the news of a potential 25% tariff on imported goods from Mexico.
The shortened holiday week with December long contracts needing to be offset before tomorrow’s close could lead to some additional pressure on prices this week.
AgRural estimates that summer corn planting in Brazil has now reached 93%, up 7% from last week.
Soybeans and meal are trading lower at midday after President-elect Trump posted news of a 10% tariff on imported goods from China. This could shift Chinese export demand from the US to South America which would hurt US prices.
AgRural estimates that soybean planting in Brazil has reached 86%, up 6% from last week.
South American weather remains favorable for production prospects and will continue to keep upside potential limited.
All three wheat contracts are trading higher at midday as weather forecasts for the Plains states turn drier over the next 10 days.
Yesterday’s Crop Progress report showed 97% of the winter wheat crop has been planted with 55% of the crop rated good-to-excellent.
President-elect Trump shared he would impose an additional 25% tariff on goods imported from Canada, which could limit upside price action.
SovEcon lowered their 24/25 Russian wheat export forecast from 45.9 mmt to 44.1 mmt.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
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