TFM Midday Update 11-3-2025

CORN

Corn futures are lower at midday Monday with December corn down 3 cents at 428.
The USDA confirmed over the weekend that the November WASDE report will be released on November 14, despite the ongoing government shutdown now entering its 34th day.
Warmer-than-normal temperatures are forecast across much of the Corn Belt this week, supporting continued harvest progress. As of Sunday, harvest was estimated at 85% complete.
Specific details on corn within the recent U.S.–China trade agreement have yet to be released, though Agriculture Secretary Brooke Rollins indicated additional information could be shared later this week.

Soybean futures are starting the week higher with January futures currently 7 cents higher at 1122.
Traders are assessing whether China will follow through on last week’s trade agreement, as markets await the official signing of the deal. Unconfirmed reports suggest China purchased an additional 250,000 metric tons of U.S. soybeans late last week, though the lack of official sales data makes this difficult to verify.
In Brazil, soybean planting continues at an average to slightly above-average pace, with IMEA reporting that Mato Grosso is now 76% planted. Early projections suggest that, with favorable weather, Brazil is on track for another record-large soybean crop.

Wheat futures are slightly lower to start the week with December CBOT wheat down 2 cents currently at 532, December KC futures are down 5 cents at 519 while December Spring Wheat futures are down 2 cents at 551.
Rumors circulated last week that China was inquiring about purchasing U.S. wheat. While China has not been an active wheat importer recently, competitive U.S. pricing — currently below other major exporters — has sparked renewed interest.
Entering the week, managed funds were estimated to hold a net short position of approximately 90,000 Chicago wheat contracts.

Keegan Madigan