TFM Midday Update 12-22-2025

MERRY CHRISTMAS FROM ALL OF US AT TOTAL FARM MARKETING!

WEDNESDAY, DECEMBER 24: The CME closes at 12:15 p.m. (CT), and Total Farm Marketing offices close at 1:00 p.m. (CT).

THURSDAY, DECEMBER 25: The CME and Total Farm Marketing offices are closed.

CORN

Corn futures are higher at midday as futures challenge the 200-day moving average. March corn is currently up 3 cents, trading at 446-3/4.
Continued strong demand for U.S. corn, combined with headline news that Russia bombed grain infrastructure in the Black Sea region, helped lift corn futures to start the week.
U.S. corn export sales for the week ended December 4 totaled 58.2 million bushels (mb) for 2025-26. Shipments reached 69.1 mb, exceeding the 61.5 mb weekly pace needed to hit 3.2 billion bushels (bb). Total corn commitments now stand at 1.8 bb, up 30% from a year ago.
Friday’s Cattle on Feed report showed 11.7 million head on feed, down 2% from a year ago, with November placements at 1.6 million head—marking a 29-year low.

Soybean futures are higher at midday, as futures search for support. March soybeans are currently up 6 cents, trading at 1065-1/2.
After six consecutive lower closes, soybeans are attempting to start the week on firmer footing. With last week’s highly publicized chart gap now filled, the market is sitting in extremely oversold technical territory.
The delayed Commitment of Traders report for the week ended December 9 showed managed funds still holding a sizable net long position of 180,000 contracts.

Wheat futures are leading the grain complex higher at midday. March CBOT wheat futures are up 6 cents at 516. March KCBOT wheat futures are up 7 cents, trading at 522-1/2 and March Spring wheat futures are up 4 cents, trading at 566.
Wheat futures are trading higher as the market rebounds from oversold conditions and recent lows. Rising geopolitical tensions between Russia and Ukraine are also providing support.
In delayed U.S. export data for the week ended December 4, wheat sales totaled 14 mb for 2025-26. Shipments reached 15.7 mb, falling short of the 16.4 mb needed to hit 900 mb for the year. Total wheat commitments now stand at 710 mb, up 23% from a year ago.

Keegan Madigan