TFM Midday Update 12-24-2025

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 is trading higher at midday ahead of the Christmas holiday, influenced by current U.S. export pace and ongoing global conflicts. March corn is trading up at 4.49 ¼ while May contracts are at 4.57 ½.
The Buenos Aires Grain Exchange reports that Argentina’s crop is now 77.7% complete, with conditions slipping 1% this week to 87% rated good to excellent, compared with 38% at the same time last year.
Weather conditions across South America appear favorable and are not currently concerning enough to justify a weather premium, though a demand-led rally remains possible in the coming months.
Slow exports from Ukraine are keeping global buyers focused on U.S. supplies, a trend that is expected to continue.

Soybeans started the session strong and maintained gains through midday on short covering and solid demand, with the entire soy complex posting gains. January soybeans are trading up at 10.59¾, while March contracts are at 10.73.
The U.S. dollar hit a 2.5-month low today, providing support to soybean prices along with strength in soymeal.
The Buenos Aires Grain Exchange pegs Argentina’s planting at 75.5% complete, with 67% rated good to excellent, compared with 62% at this time last year.
Argentina’s November soybean crush came in below expectations at 3.494 million tons. A large soybean sale to China in October may have limited supplies available to domestic crushers.

Wheat prices are higher at midday, influenced by slow Black Sea exports and forecasts for very cold temperatures in southwest Russia. Chicago wheat March contract is up to 5.23¾, while Kansas City March is trading at 5.33.
Record warm temperatures across the southern Plains could become detrimental if cold air returns in January, as some forecasters warn. Limited snow cover may increase the risk of winterkill in parts of the U.S. winter wheat region.
The Buenos Aires Grain Exchange reports that Argentina’s harvest is 84.4% complete, maintaining their production estimate at 27.1 million tons, slightly above the USDA’s 24 million tons.
Algeria reportedly purchased 500,000–550,000 tons of durum wheat in an international tender overnight.
Russia has doubled its February–June export quota to 20 million tons, signaling that it sees no supply tightness in the early part of next year.

Lauren VandenLangenberg