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1-15 End of Day: Soybeans Fall, Corn Battles Back on Wednesday

All Prices as of 2:00 pm Central Time

Grain Market Highlights

  • Firm crude oil prices and strong ethanol production supported corn futures, pushing prices back near recent highs.
  • Soybean futures closed lower as poor technical signals weighed on the market, despite record December soybean crush figures reported by NOPA.
  • Wheat futures posted a mixed close for the second straight session, with lower Paris milling wheat futures adding pressure to U.S. wheat markets.
  • To see the 8-week U.S. drought monitor class change as well as the 30-day percent of normal precipitation map for South America, scroll down to the other charts/weather section.

Note – For the best viewing experience, some Grain Market Insider content is best viewed with your phone held horizontally.

Corn

2024 Crop: 

  • Grain Market Insider recently recommended selling a portion of your 2024 corn crop.  
  • With March futures knocking on the door of their highest level since May 2024 and continuous corn up roughly 25% from the pre-harvest low in August, it is time to reward this rally.

2025 Crop: 

  • CONTINUED OPPORTUNITY – Grain Market Insider sees a continued opportunity to sell a portion of your 2025 corn crop.
  • The December ’25 corn contract has entered the target range of 455–475. 
  • First resistance is just under 3 cents away at the October 2024 high of 459.75. Selling near this level is advisable in case this resistance halts further gains in the December ’25 contract. 
  • If the December ’25 contract breaks above 459.75, the next major resistance level is around 480. Selling near 480 would be the next target for a potential sales recommendation. 
  • Strong demand for U.S. corn continues to support the market, but higher prices may incentivize additional planted acres in the U.S. for 2025. 
  • Keep an eye out for a recommendation to purchase call options if prices close above major resistance. This strategy would protect current sales while allowing you to benefit from any extended rally.

2026 Crop: 

  • Patience is advised. No sales recommendations are planned currently, as we continue to monitor the market for more favorable conditions.

To date, Grain Market Insider has issued the following corn recommendations:

  • Corn futures bucked the broader grain market trend on Wednesday, closing with small gains. A strong crude oil market provided support to corn as prices consolidated near the recent rally’s highs.
  • Ethanol production declined for the second consecutive week, dropping to 322 million gallons/day, though still 3.9% higher year-over-year. Last week, 111 million bushels of corn were used for ethanol production, remaining ahead of the pace required to meet USDA targets for the marketing year.
  • Despite the market strength, average cash basis levels continue to slip in the U.S., impacting the cash market in some areas as producers have been moving bushels into the pipeline on this recent rally.
  • Managed hedge funds added to their length in the corn market on last week’s Commitment of trader’s report.  Funds were a net long approximately 253,000 contracts as of Jan 7. Estimates have the funds holding a net long of 280,000-300,000 contracts going into today’s trade. If realized, this would be the largest net long position since 2022 for this time frame.
  • Crude oil prices surged above $80 per barrel for the first time since sanctions on Russian oil tightened supply. The rally in crude has supported the corn market and other commodities.

Soybeans

2024 Crop:

  • CONTINUED OPPORTUNITY – Grain Market Insider sees a continued opportunity to sell a portion of your 2024 soybean crop.
  • The March ’25 contract reached the 1060–1080 target range Tuesday, with an intraday high of 1064.
  • At Tuesday’s close of 1047.50, the contract stands one dollar above its December low of 947.00.
  • With Funds covering a significant number of short positions and nearing a net-neutral stance, now is an opportune time to capitalize on the rally. 

2025 Crop:

  • The target range for issuing the first sales recommendation is 1070–1100 versus Nov ’25.
  • Keep an eye out for a potential call option recommendation. Since major resistance lies within this range, it’s possible that both a sales recommendation and a call option recommendation could be issued around the same time.

2026 Crop:

  • Patience is recommended. No sales recommendations are planned until at least the peak of the U.S. growing season.

To date, Grain Market Insider has issued the following soybean recommendations:

  • Soybeans closed lower today, extending losses from yesterday as the March contract marked a lower high and lower low. Early gains in soybean oil, driven by bullish biofuel sentiment, provided support, but prices ultimately faded for a modestly higher close, while soybean meal ended the session in the red. Losses in soybeans were concentrated in deferred contracts.
  • NOPA reported December soybean crush at 206.60 million bushels, setting a new record for the month as several new processing facilities have begun operations. This exceeded the average trade estimate of 203 million bushels.
  • Yesterday, CONAB raised its soybean production forecast for the current crop year to 166.33 MMT, up slightly from last month.  Most analyst have the Brazil soybean crop above 170 MMT for their estimates as the weather continues to be favorable in the country.
  • In Argentina, drier weather persists, and temperatures are expected to heat up over the next two days before rains are expected to fall and provide relief to the soybean crop. Significant rainfall has not fallen in the country since the end of December.

Wheat

Market Notes: Wheat

  • Wheat futures ended with a mixed close across all three classes. Pressure came from a gap lower and weaker finish in Paris milling wheat futures. However, a slide in the US Dollar Index helped ease some of the selling pressure in the US wheat market.
  • Drought conditions are expected to expand in the short term across the US southern plains, though longer-range weather models point to increased precipitation for the region in the coming weeks.
  • According to the European Commission, EU soft wheat exports have reached 11.5 mmt since the season began on July 1. This represents a 35% drop from the 17.6 mmt shipped for the same timeframe last year.
  • Russia’s Deputy Ag Minister has said that due to a smaller harvest, Russia’s wheat exports this year are expected below the record amount shipped in 2024. However, wheat exports in 2025 may be higher than average as a share of total grain exports – this is as a result of export restrictions on corn, barley, and rye in the February to June timeframe.

2024 Crop:

  • Target 680 – 705 vs March ‘25 to make the next sale.
  • For those holding open July ’25 860 and 1020 call options that were recommended in May, target a selling price of about 73 cents for the 860 calls to offset the cost of the remaining 1020 calls. Holding the 1020 calls will provide protection for existing sales and give you confidence to make additional sales at higher prices.

2025 Crop:

  • Grain Market Insider recently recommended liquidating a portion of previously recommended put options.
  • Continue holding the remaining quarter of the previously recommended July ’25 Chi wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 Chi wheat to exit these remaining puts if the market makes new lows.
  • Patience is advised regarding sales, as we monitor the market for improved conditions and timing.

2026 Crop:

  • CONTINUED OPPORTUNITY – Grain Market Insider sees a continued opportunity to sell the first portion of your 2026 Chicago wheat crop.
  • With daily trading volume in the July ‘26 contract increasing to start the New Year, and nearly 90 cents of carry between the March ‘25 and July ‘26 contracts, we recommend making your first sale for the crop you’ll plant this fall.

2024 Crop:

  • Target the 650 – 700 versus March ‘25 area to sell more of your 2024 HRW wheat crop.
  • For those holding the previously recommended July ’25 860 and 1020 calls, target a selling price of about 71 cents on the 860 calls. This would achieve a net-neutral cost on the remaining 1020 calls, and still give you confidence to sell more bushels at higher prices.

2025 Crop:

  • Grain Market Insider recently recommended liquidating a portion of previously recommended put options.
  • Target the 640 – 665 range versus July ’25 to make additional 2025 HRW wheat sales.
  • Continue holding the remaining quarter of the previously recommended July ’25 KC wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 KC wheat to exit these remaining puts if the market makes new lows.
  • If the market rallies considerably, look to protect sales by buying upside calls in the 745 – 770 range versus July ’25. This will also give you confidence to sell more bushels at higher prices.

2026 Crop:

  • Patience is recommended. It may be some time before targets are set for the 2026 crop, as we continue to monitor the market for better conditions and timing.

To date, Grain Market Insider has issued the following KC recommendations:

2024 Crop:

  • Potentially targeting a rally to the 610–635 range versus March ’25 for additional sales of your 2024 crop. While this is the initial area of interest, the near-record short position held by the Funds suggests that this target range could shift as future price action develops.
  • For those holding the previously recommended July ’25 KC wheat 860 and 1020 calls, target a selling price of approximately 71 cents on the 860 calls. This would achieve a net-neutral cost on the remaining 1020 calls and provide confidence to sell more bushels at higher prices.

2025 Crop:

  • Grain Market Insider recently recommended liquidating a portion of previously recommended put options.
  • Look to protect existing sales by buying upside calls in the 745 – 770 range versus July ’25 KC wheat if the market turns higher and rallies considerably. This will also give you confidence to sell more bushels at higher prices.
  • Continue holding the remaining quarter of the previously recommended July ’25 KC wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 KC wheat to exit these remaining puts if the market makes new lows.

2026 Crop:

  • Patience is recommended. It may be some time before targets are set for the 2026 crop, as we continue to monitor the market for better conditions and timing.

To date, Grain Market Insider has issued the following Minneapolis wheat recommendations:

Other Charts / Weather

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1-14 End of Day: Corn and Soybeans Retreat from Recent Highs

All Prices as of 2:00 pm Central Time

Grain Market Highlights

  • Corn futures tested upside resistance during Tuesday’s session but ultimately closed lower as buying momentum eased.
  • After a more than 50-cent higher move in just two sessions, soybean futures corrected lower on Tuesday.
  • Wheat futures ended mixed, with Chicago wheat managing slight gains, while Kansas City and spring wheat futures dipped into negative territory.
  • See the updated GRACE-based shallow ground water drought indicator for the U.S. as well as the week two precipitation anomaly forecast for South America, scroll down to the other charts/weather section.

Note – For the best viewing experience, some Grain Market Insider content is best viewed with your phone held horizontally.

Corn

2024 Crop: 

  • Grain Market Insider recently recommended selling a portion of your 2024 corn crop.  
  • With March futures knocking on the door of their highest level since May 2024 and continuous corn up roughly 25% from the pre-harvest low in August, it is time to reward this rally.

2025 Crop: 

  • CONTINUED OPPORTUNITY – Grain Market Insider sees a continued opportunity to sell a portion of your 2025 corn crop.
  • The December ’25 corn contract has entered the target range of 455–475. 
  • First resistance is just under 3 cents away at the October 2024 high of 459.75. Selling near this level is advisable in case this resistance halts further gains in the December ’25 contract. 
  • If the December ’25 contract breaks above 459.75, the next major resistance level is around 480. Selling near 480 would be the next target for a potential sales recommendation. 
  • Strong demand for U.S. corn continues to support the market, but higher prices may incentivize additional planted acres in the U.S. for 2025. 
  • Keep an eye out for a recommendation to purchase call options if prices close above major resistance. This strategy would protect current sales while allowing you to benefit from any extended rally.

2026 Crop: 

  • Patience is advised. No sales recommendations are planned currently, as we continue to monitor the market for more favorable conditions.

To date, Grain Market Insider has issued the following corn recommendations:

  • Corn futures lost momentum on Tuesday, retreating from their highest levels since June 2024. Producer selling and weakness in other markets likely limited the upside. With the turn lower, the corn market posted a bearish hook reversal on the daily charts, which could lead to additional selling pressure of this weak technical signal.
  • Managed hedge funds added to their length in the corn market on last week’s Commitment of trader’s report.  Funds were a net long approximately 253,000 contracts as of Jan 7. Estimates have the funds holding a net long of 280,000-300,000 contracts going into today’s trade. If realized, this would be the largest net long position since 2022 for this time frame.
  • Crude oil prices faced selling pressure on Tuesday after reaching $79 per barrel early in the session — the highest price since July. This weakness likely weighed on the corn and soybean markets.
  • In the cash market, basis levels have widened as producer selling has ramped up in response to recent price increases. While futures have rallied strongly since the USDA report, the cash market in some areas has not fully mirrored these gains.

Soybeans

2024 Crop:

  • NEW ACTION – Grain Market Insider recommends selling a portion of your 2024 soybean crop.
  • The March ’25 contract reached the 1060–1080 target range today, with an intraday high of 1064.
  • At today’s close of 1047.50, the contract stands one dollar above its December low of 947.00.
  • With Funds covering a significant number of short positions and nearing a net-neutral stance, now is an opportune time to capitalize on the rally.  

2025 Crop:

  • The target range for issuing the first sales recommendation is 1070–1100 versus Nov ’25.
  • Keep an eye out for a potential call option recommendation. Since major resistance lies within this range, it’s possible that both a sales recommendation and a call option recommendation could be issued around the same time.

2026 Crop:

  • Patience is recommended. No sales recommendations are planned until at least the peak of the U.S. growing season.

To date, Grain Market Insider has issued the following soybean recommendations:

  • Soybeans ultimately ended the day with a lower close but briefly traded as much as 10 cents higher this morning before fading. The fundamentals are bullish overall with a dry Argentine forecast and a lower national US soybean yield, but fund profit taking and farmer selling may have added pressure today.
  • Soybean meal finished higher, while soybean oil declined slightly. However, soybean oil has rallied sharply this year due to the potential removal of foreign-used cooking oil from renewable diesel production, which would boost demand. The Biden administration’s progress on the 45Z tax credit could further support soybean oil, though uncertainties remain regarding qualification criteria.
  • Yesterday’s CFTC report showed funds as buyers of 13,835 contracts of soybeans as of January 7 which reduced their net short position to 28,612 contracts. Funds are estimated to have bought back over 27,000 contracts in just the last two days, which would likely establish them with a new net long position.
  • The USDA initially announced a 198,000 MT soybean sale to China, which was later corrected to a corn sale. Near-term soybean demand concerns persist, as Brazilian export prices range $0.90 to $1.20 per bushel below U.S. soybeans.
  • CONAB raised its soybean production forecast for the current crop year to 166.33 MMT, up slightly from last month.  Most analyst have the Brazil soybean crop above 170 MMT for their estimates.

Wheat

Market Notes: Wheat

  • Wheat futures closed mixed, with Chicago posting modest gains, while Kansas City and Minneapolis saw neutral to slight losses. Wheat’s resilience, despite weaker corn and soybean markets, can be attributed to a sharply lower US Dollar Index.
  • According to CFTC data, managed funds were net sellers of around 1,900 Chicago and 2,200 Minneapolis wheat contracts. However, they were net buyers of around 2,000 Kansas City contracts. The combined net short position for all three classes sits at nearly 150,000 contracts, compared to the record short of over 198,000 contracts in December 2023.
  • The Russian Grain Union reported total grain exports of 34.3 mmt from July to December 2024, a 5.4% decline from the same period a year earlier. However, wheat exports increased slightly by 0.7% to 30 mmt.
  • According to Secex, Brazil imported 520.9 mmt of wheat in December, bringing 2024 total imports to 6.65 mmt, significantly surpassing 2023 imports of 4.18 mmt. December imports were the highest for any month since 2019, and 2024 marked the largest annual total since 2018.

2024 Crop:

  • Target 680 – 705 vs March ‘25 to make the next sale.
  • For those holding open July ’25 860 and 1020 call options that were recommended in May, target a selling price of about 73 cents for the 860 calls to offset the cost of the remaining 1020 calls. Holding the 1020 calls will provide protection for existing sales and give you confidence to make additional sales at higher prices.

2025 Crop:

  • Grain Market Insider recently recommended liquidating a portion of previously recommended put options.
  • Continue holding the remaining quarter of the previously recommended July ’25 Chi wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 Chi wheat to exit these remaining puts if the market makes new lows.
  • Patience is advised regarding sales, as we monitor the market for improved conditions and timing.

2026 Crop:

  • CONTINUED OPPORTUNITY – Grain Market Insider sees a continued opportunity to sell the first portion of your 2026 Chicago wheat crop.
  • With daily trading volume in the July ‘26 contract increasing to start the New Year, and nearly 90 cents of carry between the March ‘25 and July ‘26 contracts, we recommend making your first sale for the crop you’ll plant this fall.

2024 Crop:

  • Target the 650 – 700 versus March ‘25 area to sell more of your 2024 HRW wheat crop.
  • For those holding the previously recommended July ’25 860 and 1020 calls, target a selling price of about 71 cents on the 860 calls. This would achieve a net-neutral cost on the remaining 1020 calls, and still give you confidence to sell more bushels at higher prices.

2025 Crop:

  • Grain Market Insider recently recommended liquidating a portion of previously recommended put options.
  • Target the 640 – 665 range versus July ’25 to make additional 2025 HRW wheat sales.
  • Continue holding the remaining quarter of the previously recommended July ’25 KC wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 KC wheat to exit these remaining puts if the market makes new lows.
  • If the market rallies considerably, look to protect sales by buying upside calls in the 745 – 770 range versus July ’25. This will also give you confidence to sell more bushels at higher prices.

2026 Crop:

  • Patience is recommended. It may be some time before targets are set for the 2026 crop, as we continue to monitor the market for better conditions and timing.

To date, Grain Market Insider has issued the following KC recommendations:

2024 Crop:

  • Potentially targeting a rally to the 610–635 range versus March ’25 for additional sales of your 2024 crop. While this is the initial area of interest, the near-record short position held by the Funds suggests that this target range could shift as future price action develops.
  • For those holding the previously recommended July ’25 KC wheat 860 and 1020 calls, target a selling price of approximately 71 cents on the 860 calls. This would achieve a net-neutral cost on the remaining 1020 calls and provide confidence to sell more bushels at higher prices.

2025 Crop:

  • Grain Market Insider recently recommended liquidating a portion of previously recommended put options.
  • Look to protect existing sales by buying upside calls in the 745 – 770 range versus July ’25 KC wheat if the market turns higher and rallies considerably. This will also give you confidence to sell more bushels at higher prices.
  • Continue holding the remaining quarter of the previously recommended July ’25 KC wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 KC wheat to exit these remaining puts if the market makes new lows.

2026 Crop:

  • Patience is recommended. It may be some time before targets are set for the 2026 crop, as we continue to monitor the market for better conditions and timing.

To date, Grain Market Insider has issued the following Minneapolis wheat recommendations:

Other Charts / Weather

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1-13 End of Day: Grains Start the Week Higher

All Prices as of 2:00 pm Central Time

Grain Market Highlights

  • Corn futures continued their march higher on Monday, building on momentum from Friday’s bullish USDA report.
  • Soybean and soybean meal futures opened the week with sharp gains as weekend forecasts for Argentina turned warmer and drier, raising concerns about crop stress. Soybean oil also rallied, adding strength to the complex.
  • Wheat futures closed higher across all classes on Monday despite the U.S. Dollar hitting another near-term high. Spillover strength from surging corn and soybean markets provided key support for the wheat rally.
  • See the 7-day GEFS accumulated precipitation anomaly as well as the GRACE-based shallow ground water drought indicator for South America, scroll down to the other charts/weather section.

Note – For the best viewing experience, some Grain Market Insider content is best viewed with your phone held horizontally.

Corn

Corn Action Plan Summary

2024 Crop:

  • Grain Market Insider recently recommended selling a portion of your 2024 corn crop.
  • With March futures knocking on the door of their highest level since May 2024 and continuous corn up roughly 25% from the pre-harvest low in August, it is time to reward this rally.

2025 Crop:

  • NEW ACTION – Grain Market Insider recommends selling a portion of your 2025 corn crop.
  • The December ’25 corn contract has entered the target range of 455–475.
  • First resistance is just under 3 cents away at the October 2024 high of 459.75. Selling near this level is advisable in case this resistance halts further gains in the December ’25 contract.
  • If the December ’25 contract breaks above 459.75, the next major resistance level is around 480. Selling near 480 would be the next target for a potential sales recommendation.
  • Strong demand for U.S. corn continues to support the market, but higher prices may incentivize additional planted acres in the U.S. for 2025.
  • Keep an eye out for a recommendation to purchase call options if prices close above major resistance. This strategy would protect current sales while allowing you to benefit from any extended rally.

2026 Crop:

  • Patience is advised. No sales recommendations are planned currently, as we continue to monitor the market for more favorable conditions.

To date, Grain Market Insider has issued the following corn recommendations:

  • Corn futures extended gains following Friday’s bullish USDA report. Support from strong buying in both soybean and wheat markets pushed corn prices to their highest close since June.
  • Money flow continues to move into the corn market as hedge funds have grown their long position, supported by the demand tone and friendly USDA data. Expectations are that hedge funds are 280,000-300,000 net long contracts. The latest Commitment of Traders report will be released on Monday afternoon.
  • Corn export inspections reached 1.441 MMT (56.7 mb) last week, surpassing analyst expectations. Year-to-date shipments are 26% ahead of last year and continue to outpace the USDA’s forecasted pace.
  • Strong producer selling in both U.S. and international markets could cap the corn rally by boosting export competition. Meanwhile, the U.S. dollar index climbed to a new high on Monday, adding headwinds for exports.

Above: The uptrend in the corn market remains intact. Initial support below the market lies near 450, with additional support near 434. Initial overhead resistance comes in near 460 with additional resistance near 475.

Soybeans

Soybeans Action Plan Summary

2024 Crop:

  • We remain focused on the 1060–1080 range versus March ’25 for recommending additional sales of your 2024 crop.
  • Key reasons for targeting this higher range include:

    • Funds holding significant short positions across the soy complex—soybeans, meal, and oil.
    • The entire soy complex is macro-oversold, a condition that historically favors buying over selling.
    • Seasonal opportunities may improve as the South American growing season progresses.

2025 Crop:

  • The target range for issuing the first sales recommendation is 1070–1100 versus Nov ’25.
  • Keep an eye out for a potential call option recommendation. Since major resistance lies within this range, it’s possible that both a sales recommendation and a call option recommendation could be issued around the same time.

2026 Crop:

  • Patience is recommended. No sales recommendations are planned until at least the peak of the U.S. growing season.

To date, Grain Market Insider has issued the following soybean recommendations:

  • Soybeans ended the day sharply higher for the second consecutive trading session with the March contract now comfortably above the 100-day moving average with the 200-day as its potential next target. Trade is riding the sugar high from Friday’s WASDE report and potentially dry Argentinian weather.
  • Both soybean meal and oil were higher today, but soybean meal led the entire complex higher as concerns arise over the forecast for Argentina and southern Brazil with Argentina facing dangerously low soil moisture levels. Higher crude oil prices today were likely supportive to soybean oil.
  • Friday’s WASDE report saw the national soybean yield fall by 1 bpa which was significantly more than the average trade estimate. Ending stocks have fallen to just 380 mb from 470 mb in December’s report. World ending stocks were lowered as well.
  • One week from today, President Trump will be inaugurated, and he has stated that 100 executive orders would begin on his first day. While most will likely focus on border security, Tariffs on Chinese goods will likely also be a focus, and this could have a negative impact on trade relations.

Above: The 1000 level should act as support on a break lower. Initial overhead resistance lies near the last September highs between 1060 and 1075.

Wheat

Market Notes: Wheat

  • Wheat finished higher in all three classes, led by double digit gains in Chicago. This rally occurred despite a new near-term high for the US Dollar today, and relatively neutral wheat data on Friday’s report. Spillover support from higher corn, and sharply higher soybeans, offered strength to wheat.
  • Weekly wheat inspections at 10.6 mb bring total 24/25 inspections to 478 mb, which is up 25% from last year. Inspections are running ahead of the USDA’s estimated pace, and exports are estimated at 850 mb, up 20% from the year prior.
  • According to IKAR, Russian wheat export values remained unchanged last week at $237 per MT on a FOB basis. SovEcon reported Russian grain exports totaling 410,000 MT for the week, with wheat accounting for 400,000 MT. Russia also reduced its wheat export tax by 2.3% to 4,245 Rubles per MT through January 21.
  • Ukraine’s total 2025 grain production may reach between 55-65 mmt, according to UkrAgroConsult. For reference, last year’s grain harvest was 54.3 mmt. In addition, the amount of grain for export is estimated to be between 40-50 mmt.

Chicago Wheat Action Plan Summary

2024 Crop:

  • Target 680 – 705 vs March ‘25 to make the next sale.
  • For those holding open July ’25 860 and 1020 call options that were recommended in May, target a selling price of about 73 cents for the 860 calls to offset the cost of the remaining 1020 calls. Holding the 1020 calls will provide protection for existing sales and give you confidence to make additional sales at higher prices.

2025 Crop:

  • Grain Market Insider recently recommended liquidating a portion of previously recommended put options.
  • Continue holding the remaining quarter of the previously recommended July ’25 Chi wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 Chi wheat to exit these remaining puts if the market makes new lows.
  • Patience is advised regarding sales, as we monitor the market for improved conditions and timing.

2026 Crop:

  • NEW ACTION – Grain Market Insider recommends selling the first portion of your 2026 Chicago wheat crop.  
  • With daily trading volume in the July ‘26 contract increasing to start the New Year, and nearly 90 cents of carry between the March ‘25 and July ‘26 contracts, we recommend making your first sale for the crop you’ll plant this fall.

To date, Grain Market Insider has issued the following Chicago wheat recommendations:

KC Wheat Action Plan Summary

2024 Crop:

  • Target the 650 – 700 versus March ‘25 area to sell more of your 2024 HRW wheat crop.
  • For those holding the previously recommended July ’25 860 and 1020 calls, target a selling price of about 71 cents on the 860 calls. This would achieve a net-neutral cost on the remaining 1020 calls, and still give you confidence to sell more bushels at higher prices.

2025 Crop:

  • Grain Market Insider recently recommended liquidating a portion of previously recommended put options.
  • Target the 640 – 665 range versus July ’25 to make additional 2025 HRW wheat sales.
  • Continue holding the remaining quarter of the previously recommended July ’25 KC wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 KC wheat to exit these remaining puts if the market makes new lows.
  • If the market rallies considerably, look to protect sales by buying upside calls in the 745 – 770 range versus July ’25. This will also give you confidence to sell more bushels at higher prices.

2026 Crop:

  • Patience is recommended. It may be some time before targets are set for the 2026 crop, as we continue to monitor the market for better conditions and timing.  

To date, Grain Market Insider has issued the following KC recommendations:

Mpls Wheat Action Plan Summary

2024 Crop:

  • Potentially targeting a rally to the 610–635 range versus March ’25 for additional sales of your 2024 crop. While this is the initial area of interest, the near-record short position held by the Funds suggests that this target range could shift as future price action develops.
  • For those holding the previously recommended July ’25 KC wheat 860 and 1020 calls, target a selling price of approximately 71 cents on the 860 calls. This would achieve a net-neutral cost on the remaining 1020 calls and provide confidence to sell more bushels at higher prices.

2025 Crop:

  • Grain Market Insider recently recommended liquidating a portion of previously recommended put options.
  • Look to protect existing sales by buying upside calls in the 745 – 770 range versus July ’25 KC wheat if the market turns higher and rallies considerably. This will also give you confidence to sell more bushels at higher prices.
  • Continue holding the remaining quarter of the previously recommended July ’25 KC wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 KC wheat to exit these remaining puts if the market makes new lows.

2026 Crop:

  • Patience is recommended. It may be some time before targets are set for the 2026 crop, as we continue to monitor the market for better conditions and timing.

To date, Grain Market Insider has issued the following Minneapolis wheat recommendations:

Above: March Minneapolis wheat is rangebound between 585 and 613. A close above 613 could trigger a rally toward 655, with resistance at 624 and 637. A close below 585 may lead to a decline toward 568.

Other Charts / Weather

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1-10 End of Day: Corn and Soybeans Sharply Higher Following USDA Report

All Prices as of 2:00 pm Central Time

Grain Market Highlights

  • Corn futures soared on Friday after the USDA made a larger-than-expected cut to 2024 U.S. corn yield estimates. March futures finished the week with a gain of 19-3/4 cents.
  • Soybean futures ended the week on a positive note as the USDA lowered the 2024 soybean yield by 2.6%, reducing ending stocks to 380 million bushels.
  • March soybean oil futures surged over 6.5% on Friday, while soybean meal futures were slightly lower.
  • Wheat futures finished mixed, pressured by USDA data showing U.S. winter wheat plantings exceeding both last year’s figures and pre-report estimates.
  • To see the updated U.S. drought monitor as well as the South American 10-day GEFS Total Accumulated Precipitation, in millimeters, courtesy of Tropical Tidbits scroll down the other charts/weather section.

Note – For the best viewing experience, some Grain Market Insider content is best viewed with your phone held horizontally.

Corn

Corn Action Plan Summary

2024 Crop:

  • Grain Market Insider recently recommended selling a portion of your 2024 corn crop.
  • With March futures knocking on the door of their highest level since May 2024 and continuous corn up roughly 25% from the pre-harvest low in August, it is time to reward this rally.

2025 Crop:

  • Target 455 – 475 versus Dec ‘25 area to make additional sales against your 2025 crop.
  • The strong demand tone for U.S. corn continues to provide support to the market, but this higher price will likely buy additional planted acres in the U.S. for 2025.
  • Major resistance on the December 2025 chart is near the 480 futures level. A close above this level could signal a potential breakout from the current range.
  • Watch for a recommendation to purchase call options if prices close above major resistance. This strategy would help protect current sales in the event of a prolonged rally.

2026 Crop:

  • Patience is advised. No sales recommendations are planned currently, as we continue to monitor the market for more favorable conditions.

To date, Grain Market Insider has issued the following corn recommendations:

  • The corn market ended the week with strong gains, driven by a bullish USDA WASDE report. March corn rose 19 ¾ cents for the week. With the strong close, the market will be watching the price action on Monday for follow-through of the buying strength today.
  • USDA weekly export sales for the week ending January 2 totaled 455,000 MT—a marketing-year low and well below expectations. The decline was largely due to six countries reducing or canceling prior sales. Despite this, U.S. corn export sales remain 30% ahead of last year. Market watchers will monitor whether this trend persists.
  • The USDA cut its 2024-25 corn yield forecast by 3.8 bu/acre to 179.3 bu/acre, reducing production by 276 mb. While demand estimates were trimmed by 75 mb, carryout fell to 1.540 billion bushels, below market expectations. Quarterly grain stocks for corn were reported at 12.074 billion bushels—100 mb below expectations and 90 mb less than last year, with 7.66 billion bushels stored on farms as of November 30.
  • Despite dry conditions, Argentina’s crop ratings remain above average, though slightly below last year. Rain chances are expected to improve in the second half of January, offering potential relief to stressed crops.

Above: The uptrend in the corn market remains intact. Initial support below the market lies near 450, with additional support near 434. Initial overhead resistance comes in near 460 with additional resistance near 475.

Soybeans

Soybeans Action Plan Summary

2024 Crop:

  • We remain focused on the 1060–1080 range versus March ’25 for recommending additional sales of your 2024 crop.
  • Key reasons for targeting this higher range include:

    • Funds holding significant short positions across the soy complex—soybeans, meal, and oil.
    • The entire soy complex is macro-oversold, a condition that historically favors buying over selling.
    • Seasonal opportunities may improve as the South American growing season progresses.

2025 Crop:

  • The target range for issuing the first sales recommendation is 1070–1100 versus Nov ’25.
  • Keep an eye out for a potential call option recommendation. Since major resistance lies within this range, it’s possible that both a sales recommendation and a call option recommendation could be issued around the same time.

2026 Crop:

  • Patience is recommended. No sales recommendations are planned until at least the peak of the U.S. growing season.

To date, Grain Market Insider has issued the following soybean recommendations:

  • Soybeans ended the day sharply higher following a surprisingly bullish USDA report. The big leader was soybean oil which ended 6.59% higher in the March contract which was supported by anticipation of the clean fuel tax credit by the Biden administration. Soybean meal ended the day slightly lower.
  • Today’s WASDE report held a bullish surprise in the way of a yield cut which was much larger than expected. Yields were cut to 50.7 bpa from 51.7 bpa last month, and this was lower than the average trade guess of 51.6 bpa. Ending stocks fell to 380 mb from 470 mb. Both Argentinian and Brazilian soybean production were surprisingly unchanged from last month.
  • Better Argentinian weather has been pressuring soybean meal, but soybean oil has taken an opposite trend over the past week with large gains both yesterday and today. The Biden administration is expected to release its climate model for clean tax fuel credits next week which trade has been waiting for and has been very friendly to soybean oil.
  • Today’s Export Sales report was very poor with the USDA reporting an increase of 10.6 million bushels of soybean export sales in 24/25 and 14,700 bushels for 25/26. This was well below the lowest trade estimate. Primary destinations were to the Netherlands, China, and Indonesia. Last week’s export shipments of 58.1 mb were above the 22.4 mb needed each week to meet the USDA’s estimates.

Above: The recent break in prices found initial support near 950. Initial overhead resistance lies just above the market near 1030 with additional resistance between 1060 and 1075.

Wheat

Market Notes: Wheat

  • Wheat closed in mixed fashion, as today’s report data was neutral to bearish for the wheat complex. Another move higher for the U.S. Dollar Index after a stronger than expected jobs report was also negative for wheat prices, despite a higher close for Paris futures.
  • The USDA pegged U.S. 2024/25 wheat ending stocks at 798 mb, slightly above December’s 795 mb estimate. Global ending stocks also rose modestly, from 257.9 mmt to 258.8 mmt. Quarterly stocks as of December 1 were reported at 1.570 bb, up from 1.421 bb last year. Winter wheat planted acreage was estimated at 34.1 million acres, exceeding the average trade guess of 31.3 million and up about 2% from last year.
  • Russian wheat exports were revised lower by 1 mmt to 46.0 mmt, while Ukrainian exports fell by 0.5 mmt to 16.0 mmt. Australian and Argentine production estimates remained steady at 32.0 mmt and 17.5 mmt, respectively.
  • In an update from the Buenos Aires Grain Exchange, as of January 9, Argentina’s 24/25 wheat crop was 98.2% harvested, with the production estimate remaining unchanged at 18.6 mmt; this is above the USDA’s guess today. For reference, last year’s crop totaled 15.1 mmt.
  • According to a Russian agricultural regulator, Russia exported 73.1 mmt of grains in 2024, up 4 mmt year over year. Wheat accounted for 57.5 mmt of this total. Combined exports of grains and grain products reached 86.7 mmt, an increase from 83.9 mmt in 2023.

Chicago Wheat Action Plan Summary

2024 Crop:

  • Target 680 – 705 vs March ‘25 to make the next sale.
  • For those holding open July ’25 860 and 1020 call options that were recommended in May, target a selling price of about 73 cents for the 860 calls to offset the cost of the remaining 1020 calls. Holding the 1020 calls will provide protection for existing sales and give you confidence to make additional sales at higher prices.

2025 Crop:

  • Grain Market Insider recently recommended liquidating a portion of previously recommended put options.
  • Continue holding the remaining quarter of the previously recommended July ’25 Chi wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 Chi wheat to exit these remaining puts if the market makes new lows.
  • Patience is advised regarding sales, as we monitor the market for improved conditions and timing.

2026 Crop:

  • Patience is advised, as we monitor the market for improved conditions and timing. It may be some time before target ranges are set for the 2026 crop.

To date, Grain Market Insider has issued the following Chicago wheat recommendations:

KC Wheat Action Plan Summary

2024 Crop:

  • Target the 650 – 700 versus March ‘25 area to sell more of your 2024 HRW wheat crop.
  • For those holding the previously recommended July ’25 860 and 1020 calls, target a selling price of about 71 cents on the 860 calls. This would achieve a net-neutral cost on the remaining 1020 calls, and still give you confidence to sell more bushels at higher prices.

2025 Crop:

  • Grain Market Insider recently recommended liquidating a portion of previously recommended put options.
  • Target the 640 – 665 range versus July ’25 to make additional 2025 HRW wheat sales.
  • Continue holding the remaining quarter of the previously recommended July ’25 KC wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 KC wheat to exit these remaining puts if the market makes new lows.
  • If the market rallies considerably, look to protect sales by buying upside calls in the 745 – 770 range versus July ’25. This will also give you confidence to sell more bushels at higher prices.

2026 Crop:

  • Patience is recommended. It may be some time before targets are set for the 2026 crop, as we continue to monitor the market for better conditions and timing.  

To date, Grain Market Insider has issued the following KC recommendations:

Mpls Wheat Action Plan Summary

2024 Crop:

  • Potentially targeting a rally to the 610–635 range versus March ’25 for additional sales of your 2024 crop. While this is the initial area of interest, the near-record short position held by the Funds suggests that this target range could shift as future price action develops.
  • For those holding the previously recommended July ’25 KC wheat 860 and 1020 calls, target a selling price of approximately 71 cents on the 860 calls. This would achieve a net-neutral cost on the remaining 1020 calls and provide confidence to sell more bushels at higher prices.

2025 Crop:

  • Grain Market Insider recently recommended liquidating a portion of previously recommended put options.
  • Look to protect existing sales by buying upside calls in the 745 – 770 range versus July ’25 KC wheat if the market turns higher and rallies considerably. This will also give you confidence to sell more bushels at higher prices.
  • Continue holding the remaining quarter of the previously recommended July ’25 KC wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 KC wheat to exit these remaining puts if the market makes new lows.

2026 Crop:

  • Patience is recommended. It may be some time before targets are set for the 2026 crop, as we continue to monitor the market for better conditions and timing.

To date, Grain Market Insider has issued the following Minneapolis wheat recommendations:

Above: March Minneapolis wheat is rangebound between 585 and 613. A close above 613 could trigger a rally toward 655, with resistance at 624 and 637. A close below 585 may lead to a decline toward 568.

Other Charts / Weather

Above: South America 10-day GEFS Total Accumulated Precipitation, in millimeters, courtesy of Tropical Tidbits.

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1-09 End of Day: Grain Markets End Day Mixed Ahead of Tomorrow’s USDA Report

Due to CME settlement issues, prices are last trade prices and not official settlements.

All Prices as of 12:15 pm Central Time

Grain Market Highlights

  • Corn prices closed higher today as traders position themselves ahead of tomorrow’s USDA WASDE and Quarterly Grain Stocks reports.
  • Soybeans closed higher, receiving support from soybean oil, which ended considerably higher. However, soybean meal posted losses as weather conditions in Argentina improve.
  • Wheat futures ended the day lower across all three classes, with the U.S. dollar staying at elevated levels, continuing to keep pressure on the wheat market.
  • To see the U.S. 7-day precipitation forecast as well as the Brazil and N. Argentina one-week forecast total precipitation courtesy of the National Weather Service, Climate Prediction Center and NOAA scroll down to the other Charts/Wheat section.

Note – For the best viewing experience, some Grain Market Insider content is best viewed with your phone held horizontally.

Corn

Corn Action Plan Summary

2024 Crop:

  • Grain Market Insider recently recommended selling a portion of your 2024 corn crop.
  • With March futures knocking on the door of their highest level since June and continuous corn up roughly 23% from the pre-harvest low in August it is time to reward this rally.
  • The January WASDE report will be released on Friday, January 10, and it’s one of the most volatile report days of the year. Corn prices often fluctuate by ±4%, depending on whether the report delivers a bullish or bearish surprise. This provides yet another reason to take advantage of the rally, just in case the USDA delivers a bearish shock.

2025 Crop:

  • Target 455 – 475 versus Dec ‘25 area to make additional sales against your 2025 crop.
  • The strong demand tone for U.S. corn continues to provide support to the market, but this higher price will likely buy additional planted acres in the U.S. for 2025.
  • Major resistance on the December 2025 chart is near the 480 futures level. A close above this level could signal a potential breakout from the current range.
  • Watch for a recommendation to purchase call options if prices close above major resistance. This strategy would help protect current sales in the event of a prolonged rally.

2026 Crop:

  • Patience is advised. No sales recommendations are planned currently, as we continue to monitor the market for more favorable conditions.

To date, Grain Market Insider has issued the following corn recommendations:

  • The corn market closed higher for the session as traders anticipated the release of Friday’s USDA WASDE and Quarterly Grain Stocks reports.
  • This morning, the Biden Administration issued short-term guidance on the 45Z tax credit plan concerning the clean energy fuel tax credit. The release helped support the market during the session and was much anticipated by the sustainable aviation fuel industry. This was only interim guidance, leaving the final plan up to the Trump Administration.
  • USDA will release weekly export sales for corn on Friday morning. The market will be watching those totals to gauge the demand pace. Concerns that corn demand may be slowing with higher prices and strong U.S. dollar limiting the U.S. in competitive balance with other global exporters. Expectations for new sales to range from 700,000 – 1.4 MMT for the week ending January 2. Last week’s sales were disappointing at 776,000 MT.
  • The expectations for the January WASDE reports are for corn production to be limited, reducing the possible carry out total to 1.680 billion bushels. This may be achieved by a possible lower yield, following the trend from the December report. Grain stock may be a sleeper number on the day with expected stocks at 12.166 billion bushels, just slightly under last year.

Above: The uptrend in the corn market remains intact. Initial support below the market lies near 450, with additional support near 434. Initial overhead resistance comes in near 460 with additional resistance near 475.

Soybeans

Soybeans Action Plan Summary

2024 Crop:

  • We remain focused on the 1060–1080 range versus March ’25 for recommending additional sales of your 2024 crop.
  • Key reasons for targeting this higher range include:

    • Funds holding significant short positions across the soy complex—soybeans, meal, and oil.
    • The entire soy complex is macro-oversold, a condition that historically favors buying over selling.
    • Seasonal opportunities may improve as the South American growing season progresses.

2025 Crop:

  • The target range for issuing the first sales recommendation is 1070–1100 versus Nov ’25.
  • Keep an eye out for a potential call option recommendation. Since major resistance lies within this range, it’s possible that both a sales recommendation and a call option recommendation could be issued around the same time.

2026 Crop:

  • Patience is recommended. No sales recommendations are planned until at least the peak of the U.S. growing season.

To date, Grain Market Insider has issued the following soybean recommendations:

  • Soybeans ended the shortened trading day higher, supported by a significant gain in soybean oil, while soybean meal traded lower. March soybean meal fell below $300 as weather conditions in Argentina improved, while soybean oil rose in tandem with crude oil.
  • In Brazil, the state of Mato Grosso has begun its soybean harvest after dry weather caused planting delays at the beginning of the season. Mato Grosso increased its planted soybean acreage by 1.47% from last year this season.
  • Pre-report estimates for soybeans in Friday’s WASDE see ending stocks falling by 12 mb to 458 mb. Yield is expected to be reduced by 0.1 bpa to 51.6 bpa, but the bearish surprise in Friday’s report could come from changes made to Brazilian production. Many analysts are expecting soybean production to be above 175 mmt, but the USDA’s last estimate in December was 169 mmt.
  • Brazilian soybean exports are expected to be down 30% at 1.71 mmt for the month of January compared to last year at this time. Despite this, a potential record harvest for the country would likely point to record export sales in 2025.

Above: The recent break in prices found initial support near 950. Initial overhead resistance lies just above the market near 1030 with additional resistance between 1060 and 1075.

Wheat

Market Notes: Wheat

  • Despite corn and soybeans inching their way to positive closes, wheat was unable to follow suit, with all three classes posting losses. A mixed to lower close for Matif wheat provided no support, and with the U.S. dollar remaining elevated, wheat continues to hover near contract lows.
  • With the monthly WASDE data set for release tomorrow, alongside the Winter Wheat Seedings report, the market may see news that could break prices out of their current sideways trend. However, traders are likely to focus more on the USDA’s stance regarding Russian production and exports.
  • On a bullish note, U.S. SRW wheat is reported to be priced equally to Argentina’s wheat on a FOB basis and is offered at a $10 per mt discount compared to French wheat. This could support export sales, which are already strong.
  • The CME is set to launch a new wheat contract for futures and options trading; if approved, the spring wheat contract will be available in the second quarter. Additionally, the CME will delist the current MIAX/MGEX spring wheat contract from its trading platform.
  • India’s wheat production estimate for 2025/26 remains unchanged at 112.7 mmt, according to LSEG. This is despite a larger planted area in Haryana, a key wheat-producing state. While India is a major wheat grower, it consumes nearly all of its production. As a result, any decline in output could force the country to import wheat.

Chicago Wheat Action Plan Summary

2024 Crop:

  • Target 680 – 705 vs March ‘25 to make the next sale.
  • For those holding open July ’25 860 and 1020 call options that were recommended in May, target a selling price of about 73 cents for the 860 calls to offset the cost of the remaining 1020 calls. Holding the 1020 calls will provide protection for existing sales and give you confidence to make additional sales at higher prices.

2025 Crop:

  • Grain Market Insider recently recommended liquidating a portion of previously recommended put options.
  • Continue holding the remaining quarter of the previously recommended July ’25 Chi wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 Chi wheat to exit these remaining puts if the market makes new lows.
  • Patience is advised regarding sales, as we monitor the market for improved conditions and timing.

2026 Crop:

  • Patience is advised, as we monitor the market for improved conditions and timing. It may be some time before target ranges are set for the 2026 crop.

To date, Grain Market Insider has issued the following Chicago wheat recommendations:

KC Wheat Action Plan Summary

2024 Crop:

  • Target the 650 – 700 versus March ‘25 area to sell more of your 2024 HRW wheat crop.
  • For those holding the previously recommended July ’25 860 and 1020 calls, target a selling price of about 71 cents on the 860 calls. This would achieve a net-neutral cost on the remaining 1020 calls, and still give you confidence to sell more bushels at higher prices.

2025 Crop:

  • Grain Market Insider recently recommended liquidating a portion of previously recommended put options.
  • Target the 640 – 665 range versus July ’25 to make additional 2025 HRW wheat sales.
  • Continue holding the remaining quarter of the previously recommended July ’25 KC wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 KC wheat to exit these remaining puts if the market makes new lows.
  • If the market rallies considerably, look to protect sales by buying upside calls in the 745 – 770 range versus July ’25. This will also give you confidence to sell more bushels at higher prices.

2026 Crop:

  • Patience is recommended. It may be some time before targets are set for the 2026 crop, as we continue to monitor the market for better conditions and timing.  

To date, Grain Market Insider has issued the following KC recommendations:

Mpls Wheat Action Plan Summary

2024 Crop:

  • Potentially targeting a rally to the 610–635 range versus March ’25 for additional sales of your 2024 crop. While this is the initial area of interest, the near-record short position held by the Funds suggests that this target range could shift as future price action develops.
  • For those holding the previously recommended July ’25 KC wheat 860 and 1020 calls, target a selling price of approximately 71 cents on the 860 calls. This would achieve a net-neutral cost on the remaining 1020 calls and provide confidence to sell more bushels at higher prices.

2025 Crop:

  • Grain Market Insider recently recommended liquidating a portion of previously recommended put options.
  • Look to protect existing sales by buying upside calls in the 745 – 770 range versus July ’25 KC wheat if the market turns higher and rallies considerably. This will also give you confidence to sell more bushels at higher prices.
  • Continue holding the remaining quarter of the previously recommended July ’25 KC wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 KC wheat to exit these remaining puts if the market makes new lows.

2026 Crop:

  • Patience is recommended. It may be some time before targets are set for the 2026 crop, as we continue to monitor the market for better conditions and timing.

To date, Grain Market Insider has issued the following Minneapolis wheat recommendations:

Above: March Minneapolis wheat is rangebound between 585 and 613. A close above 613 could trigger a rally toward 655, with resistance at 624 and 637. A close below 585 may lead to a decline toward 568.

Other Charts / Weather

Above: U.S. 7-day precipitation forecast courtesy of NOAA, Weather Prediction Center.

Above: Brazil and N. Argentina one-week forecast total precipitation courtesy of the National Weather Service, Climate Prediction Center.

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1-08 End of Day: Grains Consolidate Ahead of Friday’s USDA Report

All prices as of 2:00 pm Central Time

Grain Market Highlights

  • Corn prices edged lower Wednesday ahead of Friday’s WASDE report, pressured by weaker ethanol production and declines in wheat.
  • Soybean futures posted minimal losses as improved precipitation forecasts in Argentina weighed on prices.
  • Wheat futures fell midweek after early strength, pressured by a stronger U.S. dollar.
  • See the 15-day South America precipitation anomaly map and U.S. 8–14-day temperature outlook in the charts/weather section below.

Note – For the best viewing experience, some Grain Market Insider content is best viewed with your phone held horizontally.

Corn

Corn Action Plan Summary

2024 Crop:

  • Grain Market Insider recently recommended selling a portion of your 2024 corn crop.
  • With March futures knocking on the door of their highest level since June and continuous corn up roughly 23% from the pre-harvest low in August it is time to reward this rally.
  • If you missed previous recommendations or need cash flow in the near term, sell into market strength to get current.

2025 Crop:

  • Target the 455 – 460 versus Dec ‘25 area to make additional sales against your 2025 crop.
  • The strong demand tone for U.S. corn continues to provide support to the market, but this higher price will likely buy additional planted acres in the US for 2025.
  • Major resistance for the December 2025 chart sits near the 480 futures level, a close above this area would be a potential breakout of the current range.  
  • Be on the lookout for a recommendation to buy call options in the 470–490 range versus Dec ’25 to protect current sales against a potential extended rally.

2026 Crop:

  • Patience is advised. No sales recommendations are planned currently, as we continue to monitor the market for more favorable conditions.

To date, Grain Market Insider has issued the following corn recommendations:

  • Corn futures fell Tuesday amid choppy trade ahead of Friday’s USDA report, pressured by weaker wheat, potential Argentine weather improvement, and a strong U.S. dollar.
  • Afternoon weather models are forecasting improved rainfall chances for Argentina by mid-January which should bring relief to the center of the farming region in the country that has been under stress from recent hot, dry weather. The recent weather pattern has had an impact, but that could be minimized by this potential rainfall.
  • Weekly ethanol production dipped to 324 million gallons/day last week, using 111 mb of corn—still ahead of the pace needed to meet USDA marketing year targets.
  • The January WASDE and Quarterly Grain Stocks reports on January 10 will be pivotal for stockpile and demand insights, with choppy trading expected ahead of the release. Expectations are for corn production to be limited, reducing the possible carry out total to 1.680 billion bushels.

Above: The uptrend in the corn market remains intact. Initial support below the market lies near 450, with additional support near 434. Initial overhead resistance comes in near 460 with additional resistance near 475.

Soybeans

Soybeans Action Plan Summary

2024 Crop:

  • We are in the time frame when seasonal opportunities typically improve due to the South American growing season.
  • Any negative change in Brazil’s or Argentina’s growing conditions could send the soybean market higher, target the 1060-1080 versus March ‘25 area to make additional sales against your 2024 crop.
  • For those with capital needs, consider making these sales into price strength.

2025 Crop:

  • We are in the window when targets for additional sales on next year’s crop will start being posted. Though, patience is still recommended since they could be set as late as early spring.
  • Be on the lookout for a recommendation to buy call options. A rally to the upper 1100 range versus Nov ’25 could increase the likelihood of an extended rally, and we would recommend buying calls to prepare for that possibility.

2026 Crop:

  • Patience is advised. No sales recommendations are currently planned as we monitor the market for more favorable conditions and timing.

To date, Grain Market Insider has issued the following soybean recommendations:

  • Soybeans traded on either side of unchanged throughout the day but ultimately closed lower ahead of Friday’s WASDE report with an improved Argentinian weather forecast pressuring both soybeans and soybean meal while soybean oil ended the day higher.
  • Pre-report estimates for soybeans in Friday’s WASDE see ending stocks falling by 12 mb to 458 mb. Yield is expected to be reduced by 0.1 bpa to 51.6 bpa, but the bearish surprise in Friday’s report could come from changes made to Brazilian production. Many analysts are expecting soybean production to be above 175 mmt, but the USDA’s last estimate in December was 169 mmt
  • Hedge funds reduced net short positions to 42,447 contracts as of December 31, cutting 25,436 contracts amid Argentine and Brazilian weather concerns.
  • This morning, private exporters reported sales of 120,000 metric tons of soybeans for delivery to unknown destinations during the 2024/2025 marketing year. While encouraging, these flash sales have slowed down in recent weeks.

Above: The recent break in prices found initial support near 950. Initial overhead resistance lies just above the market near 1030 with additional resistance between 1060 and 1075.

Wheat

Market Notes: Wheat

  • All wheat classes posted modest losses, pressured by weaker corn and soybeans, a stronger U.S. dollar, and mixed Paris milling wheat futures.
  • Friday’s report includes the first look at 2025 U.S. winter wheat acreage, estimated at 33.5 million acres, slightly above 2024.
  • Pre-report estimates for December 1 wheat stocks average 1.578 bb (down from September’s 1.986 bb but above last year’s 1.421 bb). U.S. wheat ending stocks are forecast at 807 mb, with global carryout expected to rise slightly to 258.2 mmt.
  • According to the Minneapolis Grain Exchange, hard red spring wheat stocks stored in Minnesota and Wisconsin are down 24% year over year at 12.73 mb, for the week ending January 5. However, stocks were up 406,000 bu when compared with the week prior.

Chicago Wheat Action Plan Summary

2024 Crop:

  • Patience is advised regarding sales, as we monitor the market for improved conditions and timing. With harvest underway in the southern hemisphere and winter wheat into dormancy in the northern hemisphere, this can historically be a slow time of the year for the wheat market.
  • For those holding open July ’25 860 and 1020 call options that were recommended in May, target a selling price of about 73 cents for the 860 calls to offset the cost of the remaining 1020 calls. Holding the 1020 calls will provide protection for existing sales and give you confidence to make additional sales at higher prices.

2025 Crop:

  • Grain Market Insider recently recommended liquidating a portion of previously recommended put options.
  • Target the 640 – 665 range versus July ’25 to make additional 2025 HRW wheat sales.
  • Continue holding the remaining quarter of the previously recommended July ’25 KC wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 KC wheat to exit these remaining puts if the market makes new lows.
  • If the market rallies considerably, look to protect sales by buying upside calls in the 745 – 770 range versus July ’25. This will also give you confidence to sell more bushels at higher prices.

2026 Crop:

  • Patience is advised, as we monitor the market for improved conditions and timing. It may be some time before target ranges are set for the 2026 crop.

To date, Grain Market Insider has issued the following Chicago wheat recommendations:

KC Wheat Action Plan Summary

2024 Crop:

  • Target the 635 – 660 versus March ‘25 area to sell more of your 2024 HRW wheat crop.
  • For those holding the previously recommended July ’25 860 and 1020 calls, target a selling price of about 71 cents on the 860 calls. This would achieve a net-neutral cost on the remaining 1020 calls, and still give you confidence to sell more bushels at higher prices.

2025 Crop:

  • Grain Market Insider recently recommended liquidating a portion of previously recommended put options.
  • Look to protect existing sales by buying upside calls in the 745 – 770 range versus July ’25 KC wheat if the market turns higher and rallies considerably. This will also give you confidence to sell more bushels at higher prices.
  • Continue holding the remaining quarter of the previously recommended July ’25 KC wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 KC wheat to exit these remaining puts if the market makes new lows.

2026 Crop:

  • Patience is recommended. It may be some time before targets are set for the 2026 crop, as we continue to monitor the market for better conditions and timing.  

To date, Grain Market Insider has issued the following KC recommendations:

Mpls Wheat Action Plan Summary

2024 Crop:

  • Target a rally to the 610 – 635 area versus March ‘25 to sell more of your 2024 crop. We are at that time of year when seasonal price trends become more favorable.
  • For those holding the previously recommended July ’25 KC wheat 860 and 1020 calls, target a selling price of approximately 71 cents on the 860 calls. This would achieve a net-neutral cost on the remaining 1020 calls and provide confidence to sell more bushels at higher prices.

2025 Crop:

  • Grain Market Insider sees a continued opportunity to liquidate half of the remaining open July ’25 620 KC wheat puts at approximately 86 cents in premium minus fees and commission. Back in July Grain Market Insider recommended selling half of the original position to offset the cost of the now remaining puts. Our research shows that, with the July ’25 futures contract down roughly 14% from its October high of 653.75, this is an attractive risk/reward point to exit half of the remaining July ’25 620 KC Wheat put options as we approach the winter dormancy period.
  • Look to protect existing sales by buying upside calls in the 745 – 770 range versus July ’25 KC wheat if the market turns higher and rallies considerably. This will also give you confidence to sell more bushels at higher prices.
  • Continue holding the remaining half of the previously recommended July ’25 KC wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 KC wheat to exit half of these remaining puts if the market makes new lows.

2026 Crop:

  • Patience is recommended. It may be some time before targets are set for the 2026 crop, as we continue to monitor the market for better conditions and timing.

To date, Grain Market Insider has issued the following Minneapolis wheat recommendations:

Above: March Minneapolis wheat is rangebound between 585 and 613. A close above 613 could trigger a rally toward 655, with resistance at 624 and 637. A close below 585 may lead to a decline toward 568.

Other Charts / Weather

Above: 15-day South America Precipitation Anomaly Map

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1-07 End of Day: Wheat Leads Grains Higher Tuesday

All prices as of 2:00 pm Central Time

Grain Market Highlights

  • A daily flash sale to Columbia and strength in crude and wheat helped corn futures bounce off overnight lows to close fractionally higher today.
  • Soybeans ended the day with minimal losses closing well off their daily lows. Soybean meal futures were lower while soybean oil followed crude higher.
  • Wheat led all grains higher today as wheat ratings in Kansas deteriorated more than expected from the last USDA update in November.
  • To see the updated South America 10-day GEFS Total Accumulated Precipitation, in millimeters, courtesy of Tropical Tidbits, scroll down to the other chart/weather section.

Note – For the best viewing experience, some Grain Market Insider content is best viewed with your phone held horizontally.

Corn

Corn Action Plan Summary

2024 Crop:

  • Grain Market Insider recently recommended selling a portion of your 2024 corn crop.
  • With March futures knocking on the door of their highest level since June and continuous corn up roughly 23% from the pre-harvest low in August it is time to reward this rally.
  • If you missed previous recommendations or need cash flow in the near term, sell into market strength to get current.

2025 Crop:

  • Target the 455 – 460 versus Dec ‘25 area to make additional sales against your 2025 crop.
  • The strong demand tone for U.S. corn continues to provide support to the market, but this higher price will likely buy additional planted acres in the US for 2025.
  • Major resistance for the December 2025 chart sits near the 480 futures level, a close above this area would be a potential breakout of the current range.  
  • Be on the lookout for a recommendation to buy call options in the 470–490 range versus Dec ’25 to protect current sales against a potential extended rally.

2026 Crop:

  • Patience is advised. No sales recommendations are planned currently, as we continue to monitor the market for more favorable conditions.

To date, Grain Market Insider has issued the following corn recommendations:

  • The corn market fought off early session lows to finish slightly higher on the session. Strength in the wheat and crude oil markets helped support corn markets on Tuesday.
  • Managed money has stayed an active buyer in the corn market. The most recent Commitment of Trader report released on Monday afternoon showed the hedge funds were net buyers of 67,859 contracts, holding a net long position of 228,806 contracts. This is the hedge funds most bullish view of corn since Feb 2023.
  • USDA announced a flash sale of corn this morning. Columbia stepped into the export market and purchased 110,000 MT (4.3 mb) of corn for the current marketing year, underscoring ongoing supportive demand for corn.
  • The corn market remains vigilant about weather conditions in Argentina, where forecasts of dry, warmer weather in mid-January are supportive of prices. However, anticipated rainfall towards late January could influence corn and soybean prices.
  • The January WASDE and Quarterly Grain Stocks reports on January 10 will be pivotal for stockpile and demand insights, with choppy trading expected ahead of the release.

Above: The uptrend in the corn market remains intact. Initial support below the market lies near 450, with additional support near 434. Initial overhead resistance comes in near 460 with additional resistance near 475.

Above: Corn Managed Money Funds net position as of Tuesday, December 31. Net position in Green versus price in Red. Managers net bought 67,859 contracts between December 24 – 31, bringing their total position to a net long 228,806 contracts.

Soybeans

Soybeans Action Plan Summary

2024 Crop:

  • We are in the time frame when seasonal opportunities typically improve due to the South American growing season.
  • Any negative change in Brazil’s or Argentina’s growing conditions could send the soybean market higher, target the 1060-1080 versus March ‘25 area to make additional sales against your 2024 crop.
  • For those with capital needs, consider making these sales into price strength.

2025 Crop:

  • We are in the window when targets for additional sales on next year’s crop will start being posted. Though, patience is still recommended since they could be set as late as early spring.
  • Be on the lookout for a recommendation to buy call options. A rally to the upper 1100 range versus Nov ’25 could increase the likelihood of an extended rally, and we would recommend buying calls to prepare for that possibility.

2026 Crop:

  • Patience is advised. No sales recommendations are currently planned as we monitor the market for more favorable conditions and timing.

To date, Grain Market Insider has issued the following soybean recommendations:

  • Soybeans ended the day lower but rebounded significantly off their early morning lows that saw March futures as much as 11 cents lower. After yesterday’s rally, increased chances for rain in Argentina have pressured the complex with soybean meal leading the way lower while soybean oil was higher.
  • The soybean market’s attention remains squarely on weather conditions in Argentina and Southern Brazil through mid-January. Recent forecasts predicting below-normal precipitation and warmer temperatures have lent support to soybean prices. However, the market’s direction into February will hinge on the reliability of long-range forecasts which are currently suggesting rainfall will resume mid-month.
  • Hedge funds have shaved their current net short positions in the soybean market over the past couple weeks. As of December 31, hedge funds were net short 42,447 contracts by reducing the short position by a net 25,436 contracts. The short covering has been triggered by the current weather forecasts for Argentina and Southern Brazil.
  • Indonesia’s admission as a full member of the BRICS bloc, with Brazil currently presiding, has implications for soybeans. As the world’s leading producer of palm oil, Indonesia’s membership could influence global vegetable oil markets, including soybeans, due to potential shifts in trade and policy dynamics.

Above: The recent break in prices found initial support near 950. Initial overhead resistance lies just above the market near 1030 with additional resistance between 1060 and 1075.

Above: Soybean Managed Money Funds net position as of Tuesday, December 31. Net position in Green versus price in Red. Money Managers net bought 25,436 contracts between December 24 – 31, bringing their total position to a net short 42,447 contracts.

Wheat

Market Notes: Wheat

  • The wheat complex closed higher, with early strength coming from winter wheat crop condition updates, released by select states yesterday afternoon. The good to excellent rating for Kansas came in at 47% which is a sharp decline from the last rating of 55% in November. Conditions also declined in South Dakota, Oklahoma, and Nebraska.
  • European Union 24/25 wheat exports have reached 11.16 mmt as of January 5. This is down 34% from a year ago, which along with a lower Russian crop, could be supportive to the U.S. wheat export market.
  • According to data from the CFTC, funds have reduced their net short position in Chicago wheat by 8,247 contracts as of December 31, bringing their total net short to 86,762 contracts. In Kansas City, they reduced their net short position by 1,075 to 33,861 contracts.

Chicago Wheat Action Plan Summary

2024 Crop:

  • Patience is advised regarding sales, as we monitor the market for improved conditions and timing. With harvest underway in the southern hemisphere and winter wheat into dormancy in the northern hemisphere, this can historically be a slow time of the year for the wheat market.
  • For those holding open July ’25 860 and 1020 call options that were recommended in May, target a selling price of about 73 cents for the 860 calls to offset the cost of the remaining 1020 calls. Holding the 1020 calls will provide protection for existing sales and give you confidence to make additional sales at higher prices.

2025 Crop:

  • Grain Market Insider recently recommended liquidating a portion of previously recommended put options.
  • Target the 640 – 665 range versus July ’25 to make additional 2025 HRW wheat sales.
  • Continue holding the remaining quarter of the previously recommended July ’25 KC wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 KC wheat to exit these remaining puts if the market makes new lows.
  • If the market rallies considerably, look to protect sales by buying upside calls in the 745 – 770 range versus July ’25. This will also give you confidence to sell more bushels at higher prices.

2026 Crop:

  • Patience is advised, as we monitor the market for improved conditions and timing. It may be some time before target ranges are set for the 2026 crop.

To date, Grain Market Insider has issued the following Chicago wheat recommendations:

Above: Chicago Wheat Managed Money Funds’ net position as of Tuesday, December 31. Net position in Green versus price in Red. Money Managers net bought 8247 contracts between December 24 – 31, bringing their total position to a net short 86,762 contracts.

KC Wheat Action Plan Summary

2024 Crop:

  • Target the 635 – 660 versus March ‘25 area to sell more of your 2024 HRW wheat crop.
  • For those holding the previously recommended July ’25 860 and 1020 calls, target a selling price of about 71 cents on the 860 calls. This would achieve a net-neutral cost on the remaining 1020 calls, and still give you confidence to sell more bushels at higher prices.

2025 Crop:

  • Grain Market Insider recently recommended liquidating a portion of previously recommended put options.
  • Look to protect existing sales by buying upside calls in the 745 – 770 range versus July ’25 KC wheat if the market turns higher and rallies considerably. This will also give you confidence to sell more bushels at higher prices.
  • Continue holding the remaining quarter of the previously recommended July ’25 KC wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 KC wheat to exit these remaining puts if the market makes new lows.

2026 Crop:

  • Patience is recommended. It may be some time before targets are set for the 2026 crop, as we continue to monitor the market for better conditions and timing.  

To date, Grain Market Insider has issued the following KC recommendations:

Above: KC Wheat Managed Money Funds’ net position as of Tuesday, December 31. Net position in Green versus price in Red. Money Managers net bought 1,075 contracts between December 24 – 31, bringing their total position to a net short 33,861 contracts.

Mpls Wheat Action Plan Summary

2024 Crop:

  • Target a rally to the 610 – 635 area versus March ‘25 to sell more of your 2024 crop. We are at that time of year when seasonal price trends become more favorable.
  • For those holding the previously recommended July ’25 KC wheat 860 and 1020 calls, target a selling price of approximately 71 cents on the 860 calls. This would achieve a net-neutral cost on the remaining 1020 calls and provide confidence to sell more bushels at higher prices.

2025 Crop:

  • Grain Market Insider sees a continued opportunity to liquidate half of the remaining open July ’25 620 KC wheat puts at approximately 86 cents in premium minus fees and commission. Back in July Grain Market Insider recommended selling half of the original position to offset the cost of the now remaining puts. Our research shows that, with the July ’25 futures contract down roughly 14% from its October high of 653.75, this is an attractive risk/reward point to exit half of the remaining July ’25 620 KC Wheat put options as we approach the winter dormancy period.
  • Look to protect existing sales by buying upside calls in the 745 – 770 range versus July ’25 KC wheat if the market turns higher and rallies considerably. This will also give you confidence to sell more bushels at higher prices.
  • Continue holding the remaining half of the previously recommended July ’25 KC wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 KC wheat to exit half of these remaining puts if the market makes new lows.

2026 Crop:

  • Patience is recommended. It may be some time before targets are set for the 2026 crop, as we continue to monitor the market for better conditions and timing.

To date, Grain Market Insider has issued the following Minneapolis wheat recommendations:

Above: March Minneapolis wheat is rangebound between 585 and 613. A close above 613 could trigger a rally toward 655, with resistance at 624 and 637. A close below 585 may lead to a decline toward 568.

Above: Minneapolis Wheat Managed Money Funds’ net position as of Tuesday, December 31. Net position in Green versus price in Red. Money Managers net bought 161 contracts between December 24 – 31, bringing their total position to a net short 27,143 contracts.

Other Charts / Weather

Above: South America 10-day GEFS Total Accumulated Precipitation, in millimeters, courtesy of Tropical Tidbits.

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1-06 End of Day: Lower US Dollar and Argentine Forecast Rallies Grains Monday

All prices as of 2:00 pm Central Time

Grain Market Highlights

  • Corn futures rebounded Monday, supported by a drier Argentine forecast and stronger wheat prices, recovering some of Friday’s losses.
  • Soybeans closed higher but off morning highs. Soybean oil posted small gains, while soybean meal ended lower despite the Argentine weather outlook.
  • Wheat futures surged, erasing Friday’s losses in KC and Spring wheat. A sharp drop in the U.S. dollar, its weakest daily performance since late November, supported the rally.
  • To see the US 7-day precipitation forecast and the Argentina two-week forecast total precipitation courtesy of the National Weather Service, NOAA and Climate Prediction Center scroll down to the other Charts/Weather section.

Note – For the best viewing experience, some Grain Market Insider content is best viewed with your phone held horizontally.

Corn

Corn Action Plan Summary

2024 Crop:

  • Grain Market Insider sees a continued opportunity to sell a portion of your 2024 corn crop.
  • The March 2024 contract has rallied 30 cents from the Thanksgiving low and has recently traded to its highest level since late June. Looking back even farther, corn is roughly 23% higher than the August low when looking at the continuous corn chart. While strong demand has been a main driver of this rally, we are starting to see corn demand slowing at these higher prices. Therefore, Grain Market Insider sees this as an advantageous area to reward this rally by selling a portion of your 2024 corn crop.

2025 Crop:

  • Target the 455 – 460 versus Dec ‘25 area to make additional sales against your 2025 crop.
  • The strong demand tone for U.S. corn continues to provide support to the market, but this higher price will likely buy additional planted acres in the US for 2025.
  • Major resistance for the December 2025 chart sits near the 480 futures level, a close above this area would be a potential breakout of the current range.  
  • Be on the lookout for a recommendation to buy call options in the 470–490 range versus Dec ’25 to protect current sales against a potential extended rally.

2026 Crop:

  • Patience is advised. No sales recommendations are planned currently, as we continue to monitor the market for more favorable conditions.

To date, Grain Market Insider has issued the following corn recommendations:

  • Corn futures rebounded Monday, aided by a weaker U.S. dollar and strong wheat prices. March corn retested $4.60 but failed to hold, ending moderately higher.
  • The U.S. Dollar Index fell, driven by a strong Canadian dollar following President Trudeau’s resignation. The weaker dollar supported wheat and spilled over to corn.
  • Weekly corn export inspections were very routine in Monday’s report at 847,000 MT (33.6 mb), down slightly from the previous week’s totals. Total inspections for the 2024-25 marketing year are now at 639 mb, up 24% from the previous year.
  • Dry and hot weather forecasts for mid-January in Argentina remain a key market focus. Long-range forecasts into late January will likely drive corn and soybean price action.
  • The January WASDE and Quarterly Grain Stocks reports on January 10 will be pivotal for stockpile and demand insights, with choppy trading expected ahead of the release.

Above: The uptrend in the corn market remains intact. Initial support below the market lies near 450, with additional support near 434. Initial overhead resistance comes in near 460 with additional resistance near 475.

Soybeans

Soybeans Action Plan Summary

2024 Crop:

  • We are in the time frame when seasonal opportunities typically improve due to the South American growing season.
  • Any negative change in Brazil’s or Argentina’s growing conditions could send the soybean market higher, target the 1060-1080 versus March ‘25 area to make additional sales against your 2024 crop.
  • For those with capital needs, consider making these sales into price strength.

2025 Crop:

  • We are in the window when targets for additional sales on next year’s crop will start being posted. Though, patience is still recommended since they could be set as late as early spring.
  • Be on the lookout for a recommendation to buy call options. A rally to the upper 1100 range versus Nov ’25 could increase the likelihood of an extended rally, and we would recommend buying calls to prepare for that possibility.

2026 Crop:

  • Patience is advised. No sales recommendations are currently planned as we monitor the market for more favorable conditions and timing.

To date, Grain Market Insider has issued the following soybean recommendations:

  • Soybeans opened the week with higher prices as soil moisture levels continue to decline across many regions of Argentina. Growing concerns about rising temperatures and inadequate rainfall are raising the risk of significant challenges for the crop.
  • Part of the strength in the soy complex is driven by anticipation ahead of Inauguration Day, as President-elect Trump considers widespread tariffs on several countries, creating uncertainty in the markets. This news resulted in a sharp decline in the U.S. dollar overnight, while boosting commodity prices.
  • Soybean meal ended the day with a decline as cold weather and heavy snowstorms swept through the Midwest over the weekend. These weather conditions disrupted soybean processing operations, leading to delays in both production and transportation.
  • Farmers in Brazil have reportedly sold 35% of their expected soybean production, up from 20% at this time last year and surpassing the 10-year average of 30%. This increase is partly attributed to the Brazilian currency’s decline to an all-time low against the U.S. dollar.

Above: The recent break in prices found initial support near 950. Initial overhead resistance lies just above the market near 1030 with additional resistance between 1060 and 1075.

Wheat

Market Notes: Wheat

  • Wheat futures recouped Friday’s losses, with March KC and Minneapolis contracts leading the rally, while Chicago March wheat closed below Friday’s high. A sharp drop in the U.S. Dollar Index supported U.S. wheat, despite lower Matif wheat prices.
  • Weekly wheat inspections at 15.2 mb bring the total 24/25 inspections figure to 467 mb, which is up 25% from the year prior. Inspections are running above the USDA’s estimated pace, and exports are estimated at 850 mb, up 20% from last year.
  • Argentina’s wheat crop is 94.7% harvested, up 6.2% week-over-week, with production estimates steady at 18.6 mmt, compared to 15.1 mmt last year.
  • Indonesia may impose feed wheat import quotas to protect domestic corn farmers. Despite this, 2023/24 wheat imports are projected at 12.98 mmt, up from 9.45 mmt last year, according to USDA FAS.

Chicago Wheat Action Plan Summary

2024 Crop:

  • Patience is advised regarding sales, as we monitor the market for improved conditions and timing. With harvest underway in the southern hemisphere and winter wheat into dormancy in the northern hemisphere, this can historically be a slow time of the year for the wheat market.
  • For those holding open July ’25 860 and 1020 call options that were recommended in May, target a selling price of about 73 cents for the 860 calls to offset the cost of the remaining 1020 calls. Holding the 1020 calls will provide protection for existing sales and give you confidence to make additional sales at higher prices.

2025 Crop:

  • Grain Market Insider recently recommended liquidating a portion of previously recommended put options.
  • Target the 640 – 665 range versus July ’25 to make additional 2025 HRW wheat sales.
  • Continue holding the remaining quarter of the previously recommended July ’25 KC wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 KC wheat to exit these remaining puts if the market makes new lows.
  • If the market rallies considerably, look to protect sales by buying upside calls in the 745 – 770 range versus July ’25. This will also give you confidence to sell more bushels at higher prices.

2026 Crop:

  • Patience is advised, as we monitor the market for improved conditions and timing. It may be some time before target ranges are set for the 2026 crop.

To date, Grain Market Insider has issued the following Chicago wheat recommendations:

KC Wheat Action Plan Summary

2024 Crop:

  • Target the 635 – 660 versus March ‘25 area to sell more of your 2024 HRW wheat crop.
  • For those holding the previously recommended July ’25 860 and 1020 calls, target a selling price of about 71 cents on the 860 calls. This would achieve a net-neutral cost on the remaining 1020 calls, and still give you confidence to sell more bushels at higher prices.

2025 Crop:

  • Grain Market Insider recently recommended liquidating a portion of previously recommended put options.
  • Look to protect existing sales by buying upside calls in the 745 – 770 range versus July ’25 KC wheat if the market turns higher and rallies considerably. This will also give you confidence to sell more bushels at higher prices.
  • Continue holding the remaining quarter of the previously recommended July ’25 KC wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 KC wheat to exit these remaining puts if the market makes new lows.

2026 Crop:

  • Patience is recommended. It may be some time before targets are set for the 2026 crop, as we continue to monitor the market for better conditions and timing.  

To date, Grain Market Insider has issued the following KC recommendations:

Mpls Wheat Action Plan Summary

2024 Crop:

  • Target a rally to the 610 – 635 area versus March ‘25 to sell more of your 2024 crop. We are at that time of year when seasonal price trends become more favorable.
  • For those holding the previously recommended July ’25 KC wheat 860 and 1020 calls, target a selling price of approximately 71 cents on the 860 calls. This would achieve a net-neutral cost on the remaining 1020 calls and provide confidence to sell more bushels at higher prices.

2025 Crop:

  • Grain Market Insider sees a continued opportunity to liquidate half of the remaining open July ’25 620 KC wheat puts at approximately 86 cents in premium minus fees and commission. Back in July Grain Market Insider recommended selling half of the original position to offset the cost of the now remaining puts. Our research shows that, with the July ’25 futures contract down roughly 14% from its October high of 653.75, this is an attractive risk/reward point to exit half of the remaining July ’25 620 KC Wheat put options as we approach the winter dormancy period.
  • Look to protect existing sales by buying upside calls in the 745 – 770 range versus July ’25 KC wheat if the market turns higher and rallies considerably. This will also give you confidence to sell more bushels at higher prices.
  • Continue holding the remaining half of the previously recommended July ’25 KC wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 KC wheat to exit half of these remaining puts if the market makes new lows.

2026 Crop:

  • Patience is recommended. It may be some time before targets are set for the 2026 crop, as we continue to monitor the market for better conditions and timing.

To date, Grain Market Insider has issued the following Minneapolis wheat recommendations:

Above: March Minneapolis wheat is rangebound between 585 and 613. A close above 613 could trigger a rally toward 655, with resistance at 624 and 637. A close below 585 may lead to a decline toward 568.

Other Charts / Weather

Above: US 7-day precipitation forecast courtesy of NOAA, Weather Prediction Center.

Above: Argentina two-week forecast total precipitation courtesy of the National Weather Service, Climate Prediction Center.

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1-3 End of Day: Grains Tumble Friday on Poor Export Sales

All prices as of 2:00 pm Central Time

Grain Market Highlights

  • Corn fell Friday on weak export sales and broad commodity weakness, marking its first weekly loss after four straight weeks of gains.
  • Poor export sales and improved Argentine weather pushed soybeans sharply lower. Despite Friday’s losses, March soybean futures ended the week 2 cents higher.
  • Soybean meal led Friday’s losses, dropping over 3.7%, with soybean oil also lower but by a smaller margin.
  • Wheat futures plunged on marketing-year-low export sales. March contracts for Chicago and spring wheat hit new lows, with KC wheat nearing similar levels.
  • To see the US 2-day snowfall forecast as well as the 30-day accumulated precipitation percent of normal map for South America scroll down to the other Charts/Weather section.

Note – For the best viewing experience, some Grain Market Insider content is best viewed with your phone held horizontally.

Corn

Corn Action Plan Summary

2024 Crop:

  • Grain Market Insider sees a continued opportunity to sell a portion of your 2024 corn crop.
  • The March 2024 contract has rallied 30 cents from the Thanksgiving low and has recently traded to its highest level since late June. Looking back even farther, corn is roughly 23% higher than the August low when looking at the continuous corn chart. While strong demand has been a main driver of this rally, we are starting to see corn demand slowing at these higher prices. Therefore, Grain Market Insider sees this as an advantageous area to reward this rally by selling a portion of your 2024 corn crop.

2025 Crop:

  • Target the 455 – 460 versus Dec. ‘25 area to make additional sales against your 2025 crop.
  • The strong demand tone for US corn continues to provide support to the market, but this higher price will likely buy additional planted acres in the US for 2025.
  • Major resistance for the December 2025 chart sits near the 480 futures level, a close above this area would be a potential breakout of the current range.  
  • Be on the lookout for a recommendation to buy call options in the 470–490 range versus Dec’25 to protect current sales against a potential extended rally.

2026 Crop:

  • Patience is advised. No sales recommendations are planned currently, as we continue to monitor the market for more favorable conditions.

To date, Grain Market Insider has issued the following corn recommendations:

  • The corn market posted strong losses to end the week, and sellers were extremely active to end the week in the grain markets. A weak export sales report, strong dollar, and heavy selling in the soybean and wheat markets weighed on corn futures.  The March contract finished the week 3 ¼ cents lower, breaking a 4-week streak of higher closes.
  • Failure to break resistance at $4.60 in the March contract triggered long liquidation. The weak close suggests potential for further selling in Sunday night’s trade.
  • Weekly corn export sales disappointed, with 777,000 MT (30.6 mb) reported for the week ending Dec. 26, below expectations. Mexico remained the top buyer.
  • The U.S. dollar index had a strong week, trading to 26-month high this week. The strong dollar limits the corn market as the combination of a strong dollar and higher corn prices may impact demand. In addition, wheat future trading to new lows on the session also brings demand concerns as cheaper wheat can replace corn in feed rations.
  • The USDA will release the next WASDE and Quarterly Grain Stocks report on Friday Jan 10. The report will be closely watched to see the available stockpiles, and the current demand tone in the corn market. The corn market may trade very choppy next week going into those reports.

Above: The uptrend in the corn market remains intact. Initial support below the market lies near 450, with additional support near 434. Initial overhead resistance comes in near 460 with additional resistance near 475.

Soybeans

Soybeans Action Plan Summary

2024 Crop:

  • We are in the time frame when seasonal opportunities typically improve due to the South American growing season.
  • Any negative change in Brazil’s or Argentina’s growing conditions could send the soybean market higher, target the 1060-1080 versus March ‘25 area to make additional sales against your 2024 crop.
  • For those with capital needs, consider making these sales into price strength.

2025 Crop:

  • We are in the window when targets for additional sales on next year’s crop will start being posted. Though patience is still recommended since they could be set as late as early spring.
  • Be on the lookout for a recommendation to buy call options. A rally to the upper 1100 range versus Nov ’25 could increase the likelihood of an extended rally, and we would recommend buying calls to prepare for that possibility.

2026 Crop:

  • Patience is advised. No sales recommendations are currently planned as we monitor the market for more favorable conditions and timing.

To date, Grain Market Insider has issued the following soybean recommendations:

  • Soybeans ended the day sharply lower after a poor export sales report and an Argentinian weather forecast that has shown increased moisture over the next week. March futures were unable to take out yesterday’s high and were dragged down primarily by lower soybean meal, but soybean oil was slightly lower as well.
  • Today’s export sales report saw soybean sales increase by 17.8 million bushels for 24/25 and none for 25/26. This was below the lowest trade estimate and below last week’s sales. Last week’s export shipments of 62.6 mb were above the 23.7 mb needed each week to meet the USDA’s export estimates. Primary destinations were to China, the Republic of South Africa, and Spain.
  • US soybean crushings came in at 210 million bushels for November, which was above the average trade guess and was 5% higher than the same period last year. Crude oil production was 7.1% higher than the same period last year.
  • On January 1 there were 331 deliveries against January soybeans for a total of 820 deliveries. There have been 2,097 deliveries against January bean meal and 820 deliveries against January soybean oil.

Above: The recent break in prices found initial support near 950. Initial overhead resistance lies just above the market near 1030 with additional resistance between 1060 and 1075.

Wheat

Market Notes: Wheat

  • Wheat futures saw double-digit losses across all classes, pressured by technical selling, improved rain forecasts for Argentina, and weak export sales. Sharp declines in Paris milling wheat, with March Paris wheat breaking below its 200-day moving average, further weighed on U.S. markets.
  • The USDA reported an increase of only 5.2 mb of wheat export sales for 24/25 with 0 mb for 25/26. Additionally, shipments last week at 14.0 mb fell under the 18.2 mb pace needed per week to reach the USDA’s export goal of 850 mb. Total sales commitments have reached 621 mb, which is up 11% from a year ago, but behind the USDA’s estimate of a 20% increase.
  • Despite today’s dip, the U.S. Dollar Index remains near its highest level since November 2022, adding pressure to wheat markets. A record-low Russian ruble further complicates U.S. export competitiveness.

Chicago Wheat Action Plan Summary

2024 Crop:

  • Patience is advised regarding sales, as we monitor the market for improved conditions and timing. With harvest underway in the southern hemisphere and winter wheat into dormancy in the northern hemisphere, this can historically be a slow time of the year for the wheat market.
  • For those holding open July ’25 860 and 1020 call options that were recommended in May, target a selling price of about 73 cents for the 860 calls to offset the cost of the remaining 1020 calls. Holding the 1020 calls will provide protection for existing sales and give you confidence to make additional sales at higher prices.

2025 Crop:

  • Grain Market Insider recently recommended liquidating a portion of previously recommended put options.
  • Target the 640 – 665 range versus July ’25 to make additional 2025 HRW wheat sales.
  • Continue holding the remaining quarter of the previously recommended July ’25 KC wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 KC wheat to exit these remaining puts if the market makes new lows.
  • If the market rallies considerably, look to protect sales by buying upside calls in the 745 – 770 range versus July ’25. This will also give you confidence to sell more bushels at higher prices.

2026 Crop:

  • Patience is advised, as we monitor the market for improved conditions and timing. It may be some time before target ranges are set for the 2026 crop.

To date, Grain Market Insider has issued the following Chicago wheat recommendations:

KC Wheat Action Plan Summary

2024 Crop:

  • Target the 635 – 660 versus March ‘25 area to sell more of your 2024 HRW wheat crop.
  • For those holding the previously recommended July ’25 860 and 1020 calls,target a selling price of about 71 cents on the 860 calls. This would achieve a net-neutral cost on the remaining 1020 calls, and still give you confidence to sell more bushels at higher prices.

2025 Crop:

  • Grain Market Insider recently recommended liquidating a portion of previously recommended put options.
  • Look to protect existing sales by buying upside calls in the 745 – 770 range versus July ’25 KC wheat if the market turns higher and rallies considerably. This will also give you confidence to sell more bushels at higher prices.
  • Continue holding the remaining quarter of the previously recommended July ’25 KC wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 KC wheat to exit these remaining puts if the market makes new lows.

2026 Crop:

  • Patience is recommended. It may be some time before targets are set for the 2026 crop, as we continue to monitor the market for better conditions and timing.  

To date, Grain Market Insider has issued the following KC recommendations:

Mpls Wheat Action Plan Summary

2024 Crop:

  • Target a rally to the 610 – 635 area versus March ‘25 to sell more of your 2024 crop. We are at that time of year when seasonal price trends become more favorable.
  • For those holding the previously recommended July ’25 KC wheat 860 and 1020 calls, target a selling price of approximately 71 cents on the 860 calls. This would achieve a net-neutral cost on the remaining 1020 calls and provide confidence to sell more bushels at higher prices.

2025 Crop:

  • Grain Market Insider sees a continued opportunity to liquidate half of the remaining open July ’25 620 KC wheat puts at approximately 86 cents in premium minus fees and commission. Back in July Grain Market Insider recommended selling half of the original position to offset the cost of the now remaining puts. Our research shows that, with the July ’25 futures contract down roughly 14% from its October high of 653.75, this is an attractive risk/reward point to exit half of the remaining July ’25 620 KC Wheat put options as we approach the winter dormancy period.
  • Look to protect existing sales by buying upside calls in the 745 – 770 range versus July ’25 KC wheat if the market turns higher and rallies considerably. This will also give you confidence to sell more bushels at higher prices.
  • Continue holding the remaining half of the previously recommended July ’25 KC wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 KC wheat to exit half of these remaining puts if the market makes new lows.

2026 Crop:

  • Patience is recommended. It may be some time before targets are set for the 2026 crop, as we continue to monitor the market for better conditions and timing.

To date, Grain Market Insider has issued the following Minneapolis wheat recommendations:

Above: March Minneapolis wheat is rangebound between 585 and 613. A close above 613 could trigger a rally toward 655, with resistance at 624 and 637. A close below 585 may lead to a decline toward 568.

Other Charts / Weather

Above: South America 30-day precipitation, percent of normal, courtesy of the Climate Prediction Center.

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1-2 End of Day: Corn and Soybeans Green to Start 2025

All prices as of 2:00 pm Central Time

Grain Market Highlights

  • Corn ended the day slightly higher as strong demand continues to provide underlying support to the market. March corn has closed higher in eight of the last nine trading days.  
  • Soybean futures held onto fractional gains to start the year; support today came from higher soybean meal futures while soybean oil was lower.
  • Wheat futures began the year on a softer note as the US dollar index surged to a 26-month high today.
  • To see the US 7-day precipitation forecast as well as the Brazil and N. Argentina one-week forecast total precipitation courtesy of the National Weather Service, Climate Prediction Center and NOAA scroll down to the other Charts/Weather section.

Note – For the best viewing experience, some Grain Market Insider content is best viewed with your phone held horizontally.

Corn

Corn Action Plan Summary

2024 Crop:

  • Grain Market Insider sees a continued opportunity to sell a portion of your 2024 corn crop.
  • The March 2024 contract has rallied 30 cents from the Thanksgiving low and has recently traded to its highest level since late June. Looking back even farther, corn is roughly 23% higher than the August low when looking at the continuous corn chart. While strong demand has been a main driver of this rally, we are starting to see corn demand slowing at these higher prices. Therefore, Grain Market Insider sees this as an advantageous area to reward this rally by selling a portion of your 2024 corn crop.

2025 Crop:

  • Target the 455 – 460 versus Dec. ‘25 area to make additional sales against your 2025 crop.
  • The strong demand tone for US corn continues to provide support to the market, but this higher price will likely buy additional planted acres in the US for 2025.
  • Major resistance for the December 2025 chart sits near the 480 futures level, a close above this area would be a potential breakout of the current range.  
  • Be on the lookout for a recommendation to buy call options in the 470–490 range versus Dec’25 to protect current sales against a potential extended rally.

2026 Crop:

  • Patience is advised. No sales recommendations are planned currently, as we continue to monitor the market for more favorable conditions.

To date, Grain Market Insider has issued the following corn recommendations:

  • Corn futures posted mild gains on the first trading day of 2025, supported by strong demand. Gains were capped by overhead resistance at $4.60 (March futures), a stronger U.S. dollar, and weakness in wheat.
  • The U.S. dollar index broke out to new 26-month highs on Thursday, now trading at its highest point since May 2022. The strong dollar limits U.S. competitiveness in the global export market. In addition, the Brazilian Real currency dropped to its lowest point versus the dollar in history on Thursday.
  • The USDA will release weekly export sales on Friday morning, delayed a day due to the New Year Holiday. Expectations are for new sales to range from 800,000 – 1.4 MMT for the week ending December 26. Last week’s reported sales exceeded expectations at 1.711 MMT.
  • Weekly ethanol production rebounded to 327 million gallons per day last week, up slightly from the prior week. Corn used for production last week reached an estimated 112 mb, which is above the pace needed to reach the current USDA target. Ethanol stocks have climbed, however, hitting a 15-week high on this report.

Above: The uptrend in the corn market remains intact. Initial support below the market lies near 450, with additional support near 434. Initial overhead resistance comes in near 460 with additional resistance near 475.

Soybeans

Soybeans Action Plan Summary

2024 Crop:

  • We are in the time frame when seasonal opportunities typically improve due to the South American growing season.
  • Any negative change in Brazil’s or Argentina’s growing conditions could send the soybean market higher, target the 1060-1080 versus March ‘25 area to make additional sales against your 2024 crop.
  • For those with capital needs, consider making these sales into price strength.

2025 Crop:

  • We are in the window when targets for additional sales on next year’s crop will start being posted. Though patience is still recommended since they could be set as late as early spring.
  • Be on the lookout for a recommendation to buy call options. A rally to the upper 1100 range versus Nov ’25 could increase the likelihood of an extended rally, and we would recommend buying calls to prepare for that possibility.

2026 Crop:

  • Patience is advised. No sales recommendations are currently planned as we monitor the market for more favorable conditions and timing.

To date, Grain Market Insider has issued the following soybean recommendations:

  • Soybeans ended the day slightly higher to start the new year following a sharply higher move on Tuesday that brought March futures back above $10.00 and above recent resistance at the 50-day moving average. Support today came from soybean meal while soybean oil was lower.
  • Soybean demand has been firm, and soybean crush has continued to increase over the past few months. Bloomberg analysts see soybean crush for November at 208.1 million bushels which would compare to 200.1 mb a year ago. Oil stocks are expected to come in at 1.496b lbs, which would be down from the previous year.
  • Support in soybeans has also come from a drier Argentinian forecast that is expected to last for around 10 days. This has specifically been beneficial to soybean meal as Argentina exports a significant amount. Brazilian weather remains favorable, and production estimates continue to rise with an estimate today by StoneX at 171.4 mmt.
  • On December 31 there were 380 deliveries against January soybeans for a total of 489 deliveries. There have been 1,764 deliveries against January bean meal and 617 deliveries against January soybean oil. 

Above: The recent break in prices found initial support near 950. Initial overhead resistance lies just above the market near 1030 with additional resistance between 1060 and 1075.

Wheat

Market Notes: Wheat

  • Wheat prices fell on Thursday, failing to break upside resistance. Traders are navigating a strong U.S. dollar, a poor Russian wheat crop, and firm demand, with the market in a consolidation phase.
  • Pressure in the wheat market today was likely due to a sharp increase in the value of the US dollar combined with the falling value of the Russian ruble. Wheat exports have been slightly better than expected recently though, with cuts to Russian production estimates.
  • The USDA’s Friday export report is expected to show wheat sales between 200,000–500,000 MT for the week ending Dec. 26, compared to last week’s 612,000 MT.
  • Weather forecasts are showing an improved chance of precipitation over the winter wheat belt going into the end of the week.  The U.S. storm track will likely push more southerly, allowing for moisture to help support the crop.

Chicago Wheat Action Plan Summary

2024 Crop:

  • Patience is advised regarding sales, as we monitor the market for improved conditions and timing. With harvest underway in the southern hemisphere and winter wheat into dormancy in the northern hemisphere, this can historically be a slow time of the year for the wheat market.
  • For those holding open July ’25 860 and 1020 call options that were recommended in May, target a selling price of about 73 cents for the 860 calls to offset the cost of the remaining 1020 calls. Holding the 1020 calls will provide protection for existing sales and give you confidence to make additional sales at higher prices.

2025 Crop:

  • Grain Market Insider recently recommended liquidating a portion of previously recommended put options.
  • Target the 640 – 665 range versus July ’25 to make additional 2025 HRW wheat sales.
  • Continue holding the remaining quarter of the previously recommended July ’25 KC wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 KC wheat to exit these remaining puts if the market makes new lows.
  • If the market rallies considerably, look to protect sales by buying upside calls in the 745 – 770 range versus July ’25. This will also give you confidence to sell more bushels at higher prices.

2026 Crop:

  • Patience is advised, as we monitor the market for improved conditions and timing. It may be some time before target ranges are set for the 2026 crop.

To date, Grain Market Insider has issued the following Chicago wheat recommendations:

KC Wheat Action Plan Summary

2024 Crop:

  • Target the 635 – 660 versus March ‘25 area to sell more of your 2024 HRW wheat crop.
  • For those holding the previously recommended July ’25 860 and 1020 calls,target a selling price of about 71 cents on the 860 calls. This would achieve a net-neutral cost on the remaining 1020 calls, and still give you confidence to sell more bushels at higher prices.

2025 Crop:

  • Grain Market Insider recently recommended liquidating a portion of previously recommended put options.
  • Look to protect existing sales by buying upside calls in the 745 – 770 range versus July ’25 KC wheat if the market turns higher and rallies considerably. This will also give you confidence to sell more bushels at higher prices.
  • Continue holding the remaining quarter of the previously recommended July ’25 KC wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 KC wheat to exit these remaining puts if the market makes new lows.

2026 Crop:

  • Patience is recommended. It may be some time before targets are set for the 2026 crop, as we continue to monitor the market for better conditions and timing.  

To date, Grain Market Insider has issued the following KC recommendations:

Mpls Wheat Action Plan Summary

2024 Crop:

  • Target a rally to the 610 – 635 area versus March ‘25 to sell more of your 2024 crop. We are at that time of year when seasonal price trends become more favorable.
  • For those holding the previously recommended July ’25 KC wheat 860 and 1020 calls, target a selling price of approximately 71 cents on the 860 calls. This would achieve a net-neutral cost on the remaining 1020 calls and provide confidence to sell more bushels at higher prices.

2025 Crop:

  • Grain Market Insider sees a continued opportunity to liquidate half of the remaining open July ’25 620 KC wheat puts at approximately 86 cents in premium minus fees and commission. Back in July Grain Market Insider recommended selling half of the original position to offset the cost of the now remaining puts. Our research shows that, with the July ’25 futures contract down roughly 14% from its October high of 653.75, this is an attractive risk/reward point to exit half of the remaining July ’25 620 KC Wheat put options as we approach the winter dormancy period.
  • Look to protect existing sales by buying upside calls in the 745 – 770 range versus July ’25 KC wheat if the market turns higher and rallies considerably. This will also give you confidence to sell more bushels at higher prices.
  • Continue holding the remaining half of the previously recommended July ’25 KC wheat 620 puts to provide downside protection for unsold bushels. Additionally, target the upper 400 range versus July ’25 KC wheat to exit half of these remaining puts if the market makes new lows.

2026 Crop:

  • Patience is recommended. It may be some time before targets are set for the 2026 crop, as we continue to monitor the market for better conditions and timing.

To date, Grain Market Insider has issued the following Minneapolis wheat recommendations:

Above: March Minneapolis wheat is rangebound between 585 and 613. A close above 613 could trigger a rally toward 655, with resistance at 624 and 637. A close below 585 may lead to a decline toward 568.

Other Charts / Weather

Above: US 7-day precipitation forecast courtesy of NOAA, Weather Prediction Center.

Above: Brazil and N. Argentina one-week forecast total precipitation courtesy of the National Weather Service, Climate Prediction Center.