TFM Morning Update 12-09-2025

CORN

Corn futures are quiet again this morning with gains likely being suppressed due to losses in soybeans. December corn is up 3/4 cent to $4.37 while March corn is up 1 cent to $4.44-3/4. The USDA report today is not expected to have large changes.
Estimates for today’s WASDE report show US corn ending stocks slightly lower at 2.146 billion bushels which would compare to 2.154 bb in the November report. World ending stocks are expected to drop slightly while both Argentinian and Brazilian production is set to rise.
Yesterday’s export inspections report saw corn inspections at 1,453k tons which compared to 1,630k last week and 1,068k a year ago. Top destinations were to Mexico, Japan, and Taiwan.

Soybean futures are lower again to start the day as funds continue their selling pressure. January soybeans are down 6-3/4 cents to $10.87 while March is down 6-1/4 to $10.99-1/2. January soybean meal is down $3.20 to $303.10 and January soybean oil is down 0.07 cents to 51.11 cents.
Estimates for the WASDE report show soybean US ending stocks increase to 306 mb from 290 mb last month. This is likely due to reduction in export demand. World ending stocks are expected to increase, and South American production is expected to increase as well.
Yesterday’s export inspections saw soybean inspections at 1,018k tons which compared to 932k last week and 1,739k a year ago. Top destinations were to Mexico, China, and Indonesia.

Wheat is mixed again to start the day but overall is trading within its recent range. March Chicago wheat is down 2 cents to $5.32-3/4, KC wheat is down 1-1/2 cents to $5.25, and Minn wheat is up 1-3/4 cents to $5.73.
Estimates for today’s WASDE report see US wheat ending stocks at 894 mb which would be down from 901 mb in November. World ending stocks are expected to increase.
Yesterday’s export inspections saw wheat inspections at 393k tons which compared to 386k last week and 248k a year ago. Top destinations were to Mexico, Indonesia, and Vietnam.

Amanda Brill