Morning Markets: Corn: +1.75 old & +1.25 new.
Beans: +5.50 old & +5 new. Wheat: +5.0.
All TFG locations will close at NOON TODAY and remain closed Thursday for the Christmas holiday!
Topflight Grain is offering Free PL on soybeans to all full-time locations except Maroa based on space availability good through August 31, 2026.
We also are offering Free PL on corn delivered to Pierson based on space availability good thru August 31, 2026.
Grain Marketing Program signups are due by 12/31/25!! Contact your originator with any questions or if interested in signing up!
MARKET SUMMARY:
Good morning. Merry Christmas. Ag markets at the CBOT are seeing a bit of a Christmas Eve rally this morning to start what is expected to be a quiet, holiday-shortened day of trade, with ongoing position covering and book squaring as we get into the last week of the year likely to be the only real thing to talk about throughout the day. Corn futures are 1-2 cents higher, soybean futures are 5-6 cents higher, and the Chicago wheat market is 4-5 cents higher.
Crude Oil is up $0.14 at $58.52
US Dollar is down at $97.90
Global Equities: Japan +0.0%, China +0.0%, and Europe +0.0%
Dow futures are down 37 points at 48,762
EU MATIF Exchange: Corn +0.0% and Wheat +0.0%
WEATHER:
- Midwest weather for the Christmas holiday looks to be unusually warm for most across the region, with record highs for the day possible in some places in the western and west-central parts of the region. This warmth then is expected to last through the weekend and into the first part of next week before a brief bout of cooler works into the eastern US. The longer term pattern remains warm though, and the models see warmth then returning for most of the central part of the country by the back half of next week.
- Forecasts for Argentina have moved some of the coming rainfall further to the west overnight last night, with the models now seeing precip for the northwestern corner of the country tonight and tomorrow, while rains don't look to fill in back to the east until Saturday/Sunday. Models are still wet then beyond here through southern Brazil and Paraguay, and also still see improving rainfall for the south-central part of Brazil, where the bulk of the crops are grown, by the middle/end of next week.
OTHER HEADLINES:
- The CFTC released another round of delayed commitment of traders data on Tuesday for the week ending December 16th, which showed fund traders in the week were sellers of 62,389 contracts of corn (-52,672), sellers of 32,561 contracts of soybeans (+147,778) and sellers of 20,848 contracts of Chicago wheat (-66,918); in the soy products, funds were sellers of 22,044 contracts of meal (+6,220) and sellers of 33,404 contracts of oil (-41,040). Of note, the next report will be on Wednesday the 31st, and will again be current.
- The USDA released its quarterly hogs and pigs report on Tuesday afternoon, which showed the US hog herd as of December 1 at 75.545 mil head, which was up just fractionally from September and up 1% from last year. Hogs kept for breeding were seen at 5.952 mil head, down 1% from last year, while market hogs were up 1% at 69.592 mil head.
- The USDA also released monthly livestock laughter data on Tuesday for the month of November, which showed total US red meat production in the month at 4.264 bil lbs, which was down 13% from October and down 7% from November of last year. Beef production was seen at 2.021 bil lbs, down 9% from last year, while pork production was seen at 2.232 bil lbs, down 4% from last year.
- Weekly crop data from the Buenos Aires Grain Exchange, released early this week due to the holiday, showed Argentine corn planting advancing roughly 8% on the week to 77.7% complete, while soybean planting advanced similarly from 67% to 75.5% complete. For wheat, production was left unchanged, while harvest was seen advancing from 73.3% last week to 84.3% complete this week.
- Russia on Wednesday said it would be setting its wheat export quota for the second half of the current marketing year at 20 MMTs, which suggests the country is on pace to reach its full year target of 53-55 MMTs based on totals already shipped. Russia allows quota-free exports in the first half of the marketing year from July-February, but then uses quotas for the back half of the season that are distributed based on performance in the first part of the year.
EXPORT NEWS:
- N/A
Please have a Merry and safe Christmas with your family and friends and a happy holiday season.
Noah Richardson
Topflight Grain Seymour
202 N Main Street, Seymour IL 61875
nrichardson@tfgrain.com
www.topflightgrain.com
