TFM Midday Update 11-21-2025

CORN

Corn futures are trading lower at midday. December futures have lost 1 cent to 425-1/2. March futures have lost 1/2 cent to 437.
Corn prices showed slight losses across the front-month contracts on Friday morning, following Thursday’s session where futures fell between 1 and 3¾ cents. Even strong export sales reported over a month ago were not enough to lift the market.
Export sales for 2025/26 corn in the week ending October 2 reached 2.26 million metric tons, near the top of analysts’ expectations of 1.4 to 2.5 million tons. It marked the largest weekly total so far in the marketing year and a surge of 84.9% compared with the same week last year.

Soybeans are trading lower at midday. January futures have lost 3 cents to 1119-1/2. March futures have lost 3-½ cents to 1128-1/2.
S. soybean futures slipped this morning as they work to close out a volatile week. Previously, strong Chinese demand had driven prices to a 17-month high, but uncertainty over whether China would continue its purchases has ultimately softened the rally.
U.S. soybeans are now priced higher than Brazilian soybeans. It shouldn’t be unexpected for Chinese purchases from the U.S. to come in as a trickle, rather than a flood.

Wheat futures have risen at midday. December Chicago wheat has gained 1-1/2 cents to 528-1/2. December KC wheat has gained 5-1/4 cents to 511-1/2. Spring wheat has lgained 1 cent to 573.
Global wheat prices are under pressure amid concerns over demand, though the market is expected to rebound as 2026 unfolds.
Commerzbank noted that the recent dip in wheat prices may have prompted farmers to reduce the area planted with winter wheat. A decline in global winter wheat plantings could tighten supplies and push prices higher. Commerzbank now projects average wheat prices for 2026 at $5.80 per bushel.

Matthew Lucas