TFM Morning Update 12-29-2025

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 futures are trading lower this morning. March 2026 futures are 2-1/2 cents lower at $4.47-1/2. May 2026 futures have shed 2-1/4 cents to $4.56.
The corn market is now focused on the January 12 WASDE and Crop Production report from the USDA. This is the final opportunity for USDA to adjust yield estimates until the September Grain Stocks report, and traders are watching closely for a possible yield cut following poor late-season weather across key areas of the Corn Belt.
U.S. corn demand continues to underpin the market, with U.S. supplies remaining the most competitively priced on the global export stage and 2025–26 export sales running at record levels.

Soybeans have started the day slightly lower with January 2026 futures shedding 4-1/2 cents, now trading at $10.54-1/4. March 2026 futures are 4-1/4 cents lower at $10.68-1/4.
In Brazil, planting of the 2025/26 soybean crop is nearly complete at 98%, and AgRural raised its production outlook to 180.4 million tons, up from 178.5 million in November.
In Argentina, the Buenos Aires Grain Exchange said soybean planting reached 75.5% as of December 23, up from 67.3% the prior week, with 95.2% of the crop rated normal to excellent.

Wheat futures have started the day mostly lower. Chicago wheat futures are 3 cents lower at $5.16. Kansas City wheat futures are 4-1/2 cents lower at $5.29. MIAX wheat is unchanged at $5.79.
Wheat futures advanced last week on concerns that fighting could escalate in the Black Sea export corridor, a key region given Ukraine’s role as a major global exporter of wheat and corn.
Ukrainian President Volodymyr Zelenskiy stated that talks with President Trump made significant progress, with U.S. and Ukrainian teams set to meet next week to finalize steps aimed at ending the war with Russia.

Matthew Lucas