TFM Midday Update 12-23-2025

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 trading higher at midday, supported by a weaker dollar and a stronger wheat market. March futures are up 0-1/2 cent to $4.47-1/2.
Weekly export sales totaled 69 mb for the week ending December 11. Year-to-date commitments now sit at 1.873 billion bushels, which is up 31% from a year ago.
According to Safras, Brazil’s corn production estimate has fallen to 142.88 mmt. This is down from the previous estimate of 143.56 mmt. The cut is due to lower yield expectations.

Soybean futures continue to trade higher at midday, supported by an oversold market and a lower dollar. March soybeans are trading 2-00 cents higher to $10.67-00.
Weekly export sales came in at a marketing year high of 88 mb for the week ending December 11. Year-to-date commitments total 947 mb, which is down 33% from last year.
The USDA announced a flash sale of 396,000 mt of soybeans sold to China on Monday. The sale was split between 2025/26 and 2026/27.
EU soybean imports total 6 mmt for the current marketing year. This is down from 6.94 mmt a year ago. Soybean meal imports total 8.83 mmt, which is down from 9.90 mmt last year.
AgRural has raised their Brazil soybean estimate for 2025/26 to 180.4 mmt, up from the group’s previous estimate of 178.5 mmt.

Wheat futures are trading higher at midday, supported by a lower dollar and ongoing drone strikes at Ukranian ports. March Chicago is up 00-1/4 cent to $5.15-3/4, March KC is 2-3/4 cents higher to $5.24-00, and March Minneapolis is down 1-1/4 cents to $5.78-3/4.
Weekly export sales for wheat came in at 16 mb for the week ending December 11. Year-to-date commitments now sit at 726 mb, which is up 22% from last year.
Sovecon announced that Russian farmers have sown 16.1 million hectares of winter wheat this year, which is down from 16.2 million the year prior and down from 16.9 million in 2023.
Late Monday, a Russian drone strike struck the port of Odessa along with a vessel. This is keeping wheat prices elevated to start the week.

Tanner Wilson