TFM Morning Update 12-30-2025

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 slightly lower this morning as we near the end of 2025. March 2026 futures are 1/4 cent lower at $4.42-1/4. May 2026 futures have shed 1/4 cent to $4.50-1/2.
Export inspections showed corn shipments of 1.301 MMT (51.2 mbu) for the week ending Christmas Day. While volumes fell 25.5% from the prior week due to the holiday, shipments were still up 43.4% from the same week last year.
The corn market is turning its focus to the January 12 WASDE and Crop Production report This will be the final chance for the USDA to adjust yield estimates until the September Grain Stocks report. Until then, trade is likely to remain quiet and choppy.

Soybeans have started the day quietly higher with January 2026 futures gaining 3 cents, now trading at $10.52-1/2. March 2026 futures are 3-1/4 cents higher at $10.66-3/4.
In Brazil, some of the world’s largest soybean traders are preparing to step away from their long-standing agreement to protect the Amazon Rainforest from agricultural expansion. Since the deal was signed in 2006, it has been credited with preserving millions of acres of tropical forest, making its potential unraveling a significant shift for both the soybean market and environmental policy.
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 mixed. Chicago wheat futures are 1-1/4 cents higher at $5.14-1/4. Kansas City wheat futures are 1/2 cent lower at $5.26-3/4. MIAX wheat is 1 cent lower at $5.78.
Weekly export inspections for wheat came in at 11.1 mb, lifting total 2025/26 inspections to 554 mb—an increase of 22% from the same point last year. Shipments are now running ahead of the pace implied by USDA projections, which call for 900 mb of wheat exports in 2025/26, up 9% from the prior marketing year.
Over the weekend, Donald Trump met with Ukraine’s Volodymyr Zelensky and also spoke by phone with Russia’s Vladimir Putin. While there is optimism that a peace deal could be nearing, last week’s flare-up in attacks adds uncertainty. Any agreement would likely be viewed as bearish for wheat prices.

Matthew Lucas