TFM Morning Update 12-16-2025

CORN

Corn futures are trading slightly lower on Tuesday morning. March ’26 futures are 1/2 cent lower at $4.39-1/4. December ’26 futures 1/4 cent lower at $4.60-3/4.
The USDA announced a flash corn export sale Monday morning, with 150,320 metric tons (5.9 mb) sold to unknown destinations for the current marketing year. This marked the third straight session with a reported corn sale.
USDA data released Monday showed U.S. exporters booked 1.834 MMT (72.6 mb) of new sales for the week ending November 20, near the top end of expectations. Marketing-year sales remain at a record pace, running 31% ahead of last year.

Soybean futures are slightly higher early Tuesday morning. January ’26 futures are 3/4 cent higher at $10.72-1/2. March ’26 futures are 1 cent higher at $10.82-1/2. November ’26 futures are 1-1/4 cents higher at $10.89-3/4.
U.S. soybean crushing slowed more than expected in November but still set a record for the month, according to NOPA.
Chinese purchases of US soybeans have been sluggish, with confirmed sales since late October totaling just 3.516 million tons, well below the market’s 12 million tons expectation, keeping sentiment subdued.

Chicago and Kansas City wheat have both started Tuesday lower, while MIAX wheat is unchanged. March ’26 Chicago futures are 2-1/2 cents lower at $5.18-1/4. Kansas City is 1-1/2 cents lower at $5.10-1/2. MIAX wheat is unchanged at $5.69.
Global wheat prices remain under pressure as Southern Hemisphere harvests ramp up and production estimates climb. Argentina’s Rosario Grains Exchange lifted its crop outlook to 27.7 mmt from 24.5 mmt, while Australia is heading toward its third-largest harvest on record.
Weekly wheat inspections totaled 17.9 mb, lifting 25/26 inspections to 519 mb, up 22% from last year and running ahead of the USDA’s pace for projected exports of 900 mb.

Matthew Lucas