TFM Morning 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 futures are trading higher to start the day with March up 2 cents to $4.49-1/2 and May up 2 cents to $4.57-1/2. Strong export sales have helped support the market.
Brazilian corn production estimates have fallen to 142.88 mmt for 25/26 according to Safras. This is a drop from 143.56 mmt previously and is due to lower yield expectations.
The export sales reports are nearly caught up from the government shutdown, and sales as of December 11 were strong with corn at 68.7 million bushels for 25/26. Export shipments were at 56.9 mb, slightly below the weekly amount needed. Top buyers were Japan, South Korea, and Mexico.

Soybean futures are higher this morning ahead of Christmas and appear to be carving out a bottom with futures not taking out the previous day’s low since December 19. March futures are now back above the 200-day moving average.
January soybeans are up 5 cents to $10.56-1/2 while March is up 5-3/4 cents to $10.69-1/2. November 2026 is up 5 cents to $10.78, January soybean meal is up $2.10 to $303.20, and January soybean oil is up 0.09 cents to 48.39 cents.
Soybean sales as of December 11 were very strong at 88.0 million bushels for 25/26 and 1 mb for 26/27. China bought nearly half of this total amount. Export shipments of 26.5 mb were below the 30.5 mb needed each week. Top buyers were China, unknown, and the Netherlands.

Wheat is trading higher this morning and appears to be leading the grain complex higher. March Chicago wheat is up 5-3/4 cents to $5.22-3/4, KC wheat is up 5-3/4 cents to $5.33-3/4, and Minn wheat is up 1/4 cent to $5.85.
Export sales as of December 11 were slow for wheat at 15.9 mb for 25/26 and 0.3 mb for 26/27. Export shipments of 18.0 mb were above the 16.4 mb needed each week. Top buyers were Mexico, Japan, and South Korea.
Over the weekend, both Russia and Ukraine bombed each other’s ports in the Black Se,a which has brought up fresh concerns over crop exports. Last night, Russia bombed power grids in Ukraine and civilians were killed.

Amanda Brill