TFM Midday Update 12-31-2025

FROM ALL OF US AT TOTAL FARM MARKETING, HAVE A HAPPY AND PROSPEROUS NEW YEAR!

WEDNESDAY, DECEMBER 31: The CME has regular trading hours, and Total Farm Marketing offices will close at 3:00 p.m. (CT).

THURSDAY, JANUARY 1: The CME and Total Farm Marketing offices are closed.

CORN

Corn is trading higher at midday today following the release of positive export sales data. March corn is up at 4.41 ¾.
Corn export sales for the week ended December 18 were the largest on record, dating back at least 25 years.
China’s Rural Work Conference continues, with boosting agricultural output as a major theme. Corn yields in China continue to rise as GMO seed usage increases.
The Buenos Aires Grain Exchange reports Argentina’s planting is 84.2% complete, while crop conditions fell 4% this week to 82% rated good to excellent.

Soybeans are trading lower at midday on favorable weather conditions in Brazil and tepid demand, with the entire soy complex under pressure. January soybeans are down at 10.38 ¾.
U.S. soybean export sales fell short of expectations for the week ended December 18, with China accounting for 63% of net sales.
Traders are beginning to question whether China will continue buying once the 12-million-ton commitment is met, especially as the U.S. export window nears closure due to the South American harvest.
Dr. Cordonnier raised Brazil’s production estimate by 1 million tons to 178 million, above the USDA’s 175 million. Favorable weather in Brazil continues to support these estimates.
The Buenos Aires Grain Exchange reports Argentina’s soybean planting is 82% complete, with conditions rated 68% good to excellent, up 1% from the previous week.

Wheat trading is lower at midday amid improved moisture prospects for the U.S. Plains over the next two weeks and warmer temperatures, which limit winter kill risk. March Chicago wheat is down at 5.09 ½.
Recent warmth in key winter wheat regions has melted snow cover, leaving crops exposed. The market may be underestimating winter kill risk if temperatures plunge.
Russian attacks on the Odessa port and Ukraine’s recent strike on a Russian gas pipeline have provided little support to the wheat market.
The Buenos Aires Grain Exchange raised Argentina’s production estimate to a record 27.8 million tons, up from the previous forecast of 27.1 million, with harvest now 93% complete.

Lauren VandenLangenberg