Corn prices continue to trade lower at midday, as the U.S. dollar rallies sharply following reports that the Trump Administration may issue a national emergency declaration to justify universal tariffs.
Increasing temperatures and dry weather are forecast for Argentina and Paraguay in the coming weeks. As conditions worsen, the corn crop is at risk of significant stress over the next couple of weeks.
Ukraine implemented a new minimum price export system for corn, which significantly slowed exports in December. Ukraine’s December corn exports totaled 2.498 mt down 3.118 from last year. This slowdown has proven beneficial for U.S. corn exports.
Soybeans trade lower at midday, due to the strong rally of the U.S. dollar. Both soybeans and soybean meal are trading lower, while soybean oil is trading higher.
Weather conditions in Argentina remain concerning, with increasing temperatures and dry conditions expected over the next couple of weeks, potentially stressing some of the late-planted soybeans.
USDA confirms the sale of 120,000 tons of U.S. soybeans to be delivered to an unknown destination.
Analysts expect the USDA to slightly reduce its 2024 soybean production estimate by approximately 8 mb. Even with this reduction, the 2024 crop would still be 7% above 2023 production and remain the second-largest U.S. harvest on record.
All three wheat classes are trading lower at midday, as the surge in the U.S. dollar continues to put pressure on wheat prices.
Persistent signs of deterioration in the winter wheat crop across the U.S. Plains could offer some support to wheat markets, as crop ratings decline in these states due to dry conditions and an ongoing cold snap.
Wheat exports from Russia and the EU are expected to be lower than last year, but with reduced wheat demand and increased exports from Australia and Argentina, this could compensate for the lower production and exports from Russia and the EU.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Corn continues to trade lower at midday, with futures showing signs of losing momentum due to declining exports and the anticipation of a large South American crop.
USDA confirms the sale of 110,000 tons of US corn for delivery to Columbia in 24/25.
Funds net long position grew significantly last week, reaching a 22-month high, as Argentina’s drying trend attracted new buyers.
Currently, Argentina’s corn production losses are minimal, but if dry conditions persist into the second half of January, concerns are expected to grow.
Soybeans remain lower at midday, despite growing concerns over the heat and dry weather in Argentina. Both soybeans and soybean meal are trading down, while soybean oil is experiencing slight gains.
The upside potential for soybeans has been constrained due to expectations of a record crop in Brazil, the world’s leading soybean producer. Traders will remain focused on the USDA Supply and Demand report, looking for any upward revision to Brazil’s soybean estimate, which currently stands at 169 mmt.
The anticipation of the USDA Supply and Demand report, set for release this Friday, is likely to keep prices volatile in the meantime. Meanwhile, concerns over trade wars will likely continue to cap rallies, as uncertainty surrounding potential changes in tariff policies under the incoming Trump administration persists.
Wheat futures are trading higher at midday, supported by the strength of the dollar and tough export competition, which provide underlying strength to the wheat markets. Additionally, expectations of shrinking supply from Russia, the world’s top wheat exporter, are adding strength.
Approximately 25% of the national winter wheat crop is stressed due to drought, raising concerns about the spring crop. For the US, wheat ratings in Kansas and Oklahoma have declined due to dry conditions in parts of the states, along with other areas in the Midwest.
This week’s heavy snowfall in central and eastern Kansas provided welcome moisture to the winter wheat crop and is expected to offer some cover as the cold snap persists over the next two weeks.
Domestic wheat prices in India continue to rise to record highs, as the government’s sale of wheat stocks and restrictions on how much wheat millers can hold have failed to bring prices down.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Corn futures are sharply higher at midday with prices back near last week’s highs.
A drier extended outlook for Argentina is aiding corn futures higher to start the week. Argentina’s corn crop was 87% planted as of late last week and still in good condition according to the BAGE. Conditions are expected to deteriorate however over the next two weeks.
The USDA’s January WASDE and Quarterly Grain Stocks reports, historically one of the most volatile of the year, will be released Friday.
Soybeans are higher at midday on a drier and warmer Argentine forecast over the weekend.
The next ten days to two weeks will be warm and dry in Argentina with declines in soil moisture and increased crop stress likely. Southern Brazil will also be dry during this stretch while central and western Brazil will be wet with excessive moisture in some regions.
Rumors of a shift in tariff policy for the incoming Trump administration are helping to rally beans this morning as well. Reportedly the administration team is signaling that tariffs will only be placed on certain sectors deemed critical to national or economic security, not universal across the board as previously stated.
Wheat futures are double digits higher at midday, gains in the corn and soybean markets and a lower US dollar are adding support.
The US Dollar Index is sharply lower to start the week after trading to its highest level since May of 2022 late last week.
Heavy snowfall and freezing rain from Kansas to points eastward disrupted travel over the weekend with snow still falling in the Ohio Valley this morning. The moisture was seen as mostly beneficial to wheat producing areas with snowfall helping to insulate the wheat from an upcoming arctic air blast.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Corn is lower at midday after closing higher in eight of the last nine trading sessions.
Corn export sales last week came in near the lower end of expectations totaling 30.6 mb, Mexico was the top buyer.
US corn used for ethanol in November totaled 465 mb, 1.7% higher than November of 2023.
Soybeans are trading lower at midday after a strong close to end 2024.
Much of Argentina, Uruguay, southern Brazil and Paraguay will be mostly dry through the next two weeks.
US soybean crushing in November totaled 210 mb, 5% higher than the same period last year according to the USDA.
All three wheat classes are trading lower at midday yet again after the US Dollar traded to 26-month highs this week.
A system will bring widespread snowfall across the heart of the US this weekend, snow totals will be heavier across the eastern Plains. Cold will likely set in for the next few weeks which may harm dormant winter wheat not covered by snow.
Wheat export sales were poor last week coming in at just 5.2 mb, this was a marketing year low and down 77% from the previous week.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Corn is leaning higher at midday after March corn reached 6-month highs on Tuesday.
Expanding dry conditions throughout Argentina and Southern Brazil could help keep support on breaks.
Emater estimates that corn plantings in Rio Grande do Sul have reached 95%.
Soybeans are trading higher at midday after a strong close to end 2024 on Tuesday.
Indonesia has not yet finalized their regulations for the implementation of B40 blend biodiesel but is aiming to have this completed this week.
NASS Crush will be released this afternoon with average trade guesses for crush around 206-208.1 mb, which would be about 4% higher from a year ago.
All three wheat classes are trading lower at midday on a higher US dollar and added precipitation across the Plains states in the next 6-10 days.
Mexico announced they will temporarily remove their wheat import tariff to rebuild stocks and lower domestic prices.
EU wheat prices hit 6-month highs overnight, which could offer some support under the market.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
FROM ALL OF US AT TOTAL FARM MARKETING, HAVE A HAPPY AND PROSPEROUS NEW YEAR!
TUESDAY, DECEMBER 31: The CME has regular trading hours, and Total Farm Marketing offices will close at 3:00 p.m. (CT).
WEDNESDAY, JANUARY 1: The CME and Total Farm Marketing offices are closed.
All prices as of 10:30 am Central Time
Corn
MAR ’25
457
4.75
JUL ’25
468
4.75
DEC ’25
443.25
4.25
Soybeans
JAN ’25
992.75
10.75
MAR ’25
1003.25
11.5
NOV ’25
1017
8.75
Chicago Wheat
MAR ’25
550.75
2.5
MAY ’25
561.75
2.75
JUL ’25
568.5
2.25
K.C. Wheat
MAR ’25
558.5
2.75
MAY ’25
567
2.5
JUL ’25
575.75
2.75
Mpls Wheat
MAR ’25
596.5
2.75
JUL ’25
611.25
1.5
SEP ’25
622.5
3.5
S&P 500
MAR ’25
5943.5
-15.25
Crude Oil
FEB ’25
71.74
0.75
Gold
FEB ’25
2637.6
19.5
Corn is trading higher at midday on some end of year support ahead of the New Year’s holiday.
Weather conditions remain favorable for most of Brazil while dryness in Argentina remains a concern if no rainfall lands soon.
China’s corn imports continue to fall well below last year’s pace. January through November corn imports are down 39.9% year-over-year to 13.3 mmt.
Soybeans continue to firm at midday on some flow-over support from funds reducing their net short position yesterday.
Funds sold more than 22,000 soybean oil contracts yesterday, which makes for their largest short positioning in 14 weeks.
USDA attaché in Brazil is now forecasting the 24/25 crop at 165 mmt as planted acreage continues to grow.
All three wheat classes are trading higher at midday on lower Russian production estimates.
Weather in the Northern Plains states will bring subzero temperatures this weekend. Although winterkill is expected to be limited, it will still be an area of concern.
Yesterday’s CFTC report showed managed money holding an 8-month high of short positioning at just over 95,000 contracts. Short covering could move prices in a bullish direction.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
FROM ALL OF US AT TOTAL FARM MARKETING, HAVE A HAPPY AND PROSPEROUS NEW YEAR!
TUESDAY, DECEMBER 31: The CME has regular trading hours, and Total Farm Marketing offices will close at 3:00 p.m. (CT).
WEDNESDAY, JANUARY 1: The CME and Total Farm Marketing offices are closed.
All prices as of 10:30 am Central Time
Corn
MAR ’25
451
-3
JUL ’25
462
-2.5
DEC ’25
438.75
-2
Soybeans
JAN ’25
977.5
-2.5
MAR ’25
988.75
-1
NOV ’25
1004.5
0
Chicago Wheat
MAR ’25
545.25
-1.25
MAY ’25
556
-0.75
JUL ’25
563.25
-0.5
K.C. Wheat
MAR ’25
552.75
-1.75
MAY ’25
561.25
-1.5
JUL ’25
569.25
-2.25
Mpls Wheat
MAR ’25
593
-2.25
JUL ’25
608.5
-2.25
SEP ’25
617.75
-2.5
S&P 500
MAR ’25
5956.25
-70.75
Crude Oil
FEB ’25
71.31
0.71
Gold
FEB ’25
2610.8
-21.1
Corn prices fall at midday. A higher close today would mark the corn market’s seventh consecutive daily gain.
Expanding dryness in Argentina and northern Mexico is boosting the market, with no relief expected in the forecast for the next two weeks.
Ethanol’s average daily production for the week of December 20th was 1.107 mb, a 0.4% increase from the previous week, but unchanged compared to the same period last year.
Soybeans are trading lower at midday, with soybean meal posting gains, while soybean oil is experiencing a decline.
USDA confirms the sale of 23,000 tons of U.S. soy oil for delivery in India in 24/25 year.
Widespread rain showers continue across central Brazil, creating favorable conditions for the filling of soybean pods. However, a below-average rainfall forecast in Argentina raises concerns for the later stages of the growing season.
All three wheat classes are trading lower at midday, despite recent revisions that lower supply expectations in Russia.
Colder temperatures moving across the Plains and last week’s large purchases by Algeria and Egypt could provide additional price support to the wheat markets.
Wheat prices are gaining support from recent international demand and expectations of lower supply in Russia. Consultant Sovecon forecasts a 17% drop in Russia’s wheat exports for the 2025/2026 season, as weather conditions for winter wheat deteriorate in Russia’s central and Volga regions.
According to the Buenos Aires Grain Exchange, the wheat harvest in Argentina is 88.5% complete.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Despite yesterday’s breakout, corn trading is mixed at midday, with March corn closing above the 200-day moving average.
The market remains volatile due to a drier forecast for Argentina, though soil moisture levels are currently adequate. Meanwhile, weather in Brazil continues to be favorable for corn development.
Turkey has announced that its corn production will decline by 10% this season, falling from 2.4 mt to 850,000 tons due to reduced domestic production caused by dry weather conditions across the country.
Soybeans remain lower in midday trading, along with soybean meal, while soybean oil continues to trade higher.
Argentina’s dry weather continues to drive volatility in the soybean markets, with rainfall in January crucial for the continued development of crops. Meanwhile, northern and central Brazil are still experiencing favorable conditions, supporting expectations for a record soybean crop.
Over the past two days, soybean open interest has declined by approximately 22,000 contracts as short funds exit the market ahead of year-end.
All three wheat classes are trading lower at midday, following a higher movement across the board in yesterday’s trade.
An expected reduction in Russia’s wheat export quota could provide much-needed support to the wheat markets.
Russia’s IKAR agricultural consultancy has revised its 25/26 wheat export projections to 41 mmt, down from 43.5 mmt.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
Corn trades higher at midday. March futures have now traded above the 200-day moving average for the first time since May.
Brazil’s corn exports are expected to total 4.1 mmt for the month of December according to ANEC. This was unchanged from their previous estimate.
Weather conditions in Argentina remain favorable but could see some dryness in the southeast portion of the country over the next 10 days.
Soybeans are seeing double digit gains at midday after the Brazilian real trades higher. The two have been positively correlated recently.
Conab reported that Brazil is expected to export 105.5 mmt of soybeans in the 24/25 season. Through November of this year, the country’s soybean exports total 96.8 mmt, which is down 46% from the previous period.
Brazil’s weather forecasts continue to show rainfall which will keep conditions favorable for the soybean crop.
All three wheat classes are higher at midday after Russia increased missile attacks on Ukraine’s energy grid yesterday.
Israel has reported that over 40 square kilometers of wheat sown in November has been destroyed due to drought.
Western Plains states will lean drier over the next week while the Eastern half could receive up to 2 inches of rain.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing by Stewart-Peterson and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Stewart-Peterson Inc. Reproduction of this information without prior written permission is prohibited. Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Reproduction and distribution of this information without prior written permission is prohibited. This material has been prepared by a sales or trading employee or agent of Total Farm Marketing and is, or is in the nature of, a solicitation. Any decisions you may make to buy, sell or hold a position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to Total Farm Marketing.
Stewart-Peterson Inc., Stewart-Peterson Group Inc., and SP Risk Services LLC are each part of the family of companies within Total Farm Marketing (TFM). Stewart-Peterson Inc. is a publishing company. Stewart-Peterson Group Inc. is registered with the Commodity Futures Trading Commission (CFTC) as an introducing broker and is a member of National Futures Association. SP Risk Services LLC is an insurance agency. A customer may have relationships with any or all three companies.
MERRY CHRISTMAS FROM ALL OF US AT TOTAL FARM MARKETING!
TUESDAY, DECEMBER 24: The CME closes at 12:15 p.m. (CT), and Total Farm Marketing offices close at 1:00 p.m. (CT). There will be no End of Day Grain Market Insider
WEDNESDAY, DECEMBER 25: The CME and Total Farm Marketing offices are closed.
All prices as of 10:30 am Central Time
Corn
MAR ’25
448.25
0.5
JUL ’25
456.75
1
DEC ’25
438
0.75
Soybeans
JAN ’25
972.75
3.25
MAR ’25
978.75
3.25
NOV ’25
991.25
4.25
Chicago Wheat
MAR ’25
534.5
-6
MAY ’25
545.25
-5.75
JUL ’25
552.75
-5.5
K.C. Wheat
MAR ’25
543.5
-7.5
MAY ’25
552
-7
JUL ’25
561
-6
Mpls Wheat
MAR ’25
588.75
-6.75
JUL ’25
604.75
-5.75
SEP ’25
619.5
0
S&P 500
MAR ’25
6080.75
44.75
Crude Oil
FEB ’25
70.16
0.92
Gold
FEB ’25
2631.6
3.4
Corn continues to trade in the green at midday on some flow over support from yesterday’s export sales announcement of 132,000 mt for delivery to unknown destinations for 24/25.
Yesterday’s corn export inspections came in at 44.2 mb for the week ending December 19. This was down slightly from the week prior and the same week last year.
Deral estimates that Parana’s first corn crop will now reach 2.64 mmt compared to 2.59 mmt in their previous estimate.
China announced a 10-year plan to increase whole grain consumption. The plan states that it will encourage local governments to implement policies that will boost whole grain consumption while also citing the health benefits associated with whole grains.
Soybeans remain firm at midday on support from strong export inspections yesterday.
Soybean export inspections came in at 64.2 mb for the week ending December 19. This was higher than last week and last year.
Deral slightly raises Prana’s soybean production to 22.2 mmt, up just 0.5% from their previous forecast, but up 20% from last year.
Weather forecasts in Brazil remain ideal for the next two weeks, which could continue to boost their production chances.
All three wheat classes have reversed lower at midday on rainfall across the southern portion of the Plains states. Weather forecasts over the next 10 days call for rain for the rest of the region which could limit upside potential.
Yesterday’s wheat export inspections came in at 14.8 mb for the week ending December 19. This was up slightly from the previous week.
Sovecon lowered their 24/25 Russian wheat export forecast from 44.1 mmt to 43.7 mmt. This is due to lower expected production across the country.
Turkey announced they will ease their wheat import policy in the new year. This will allow the private sector to purchase more wheat from abroad than previously allowed.
Grain Market Insider is provided by Stewart-Peterson Inc., a publishing company.
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