Morning Markets: Corn: -0.50 old & -1 new.
Beans: -3.25 old & -2.75 new. Wheat: -1.75.
All TFG locations will close at NOON TODAY for the close of 2025 business!! We will remain closed Tomorrow for the New Year 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 TODAY!! Contact your originator with any questions or if interested in signing up!
MARKET SUMMARY:
Good morning. Happy New Year. Futures markets in the ag space are lower to begin winding down 2025, as the final trading session of the year has again started quietly and with little enthusiasm. Corn futures are unchanged to a penny lower, soybean futures are 3-4 cents lower, and the Chicago wheat market is 1-2 cents lower. As a reminder, there will be no CBOT markets tonight, tomorrow, or tomorrow night, with the trade re-opening for a normal session then at 8:30am central time Friday morning. Though trade is expected to remain thin, those who are still around will be paying a little bit of attention to today's data updates, which in the case of commitment of traders, is finally expected to return to current following the government shutdown earlier this fall. The report is due at 2:30pm central time this afternoon.
Crude Oil is up $0.31 at $58.26
US Dollar is up at $98.34
Global Equities: Japan +0.0%, China +0.0%, and Europe +0.0%
Dow futures are up 8 points at 48,658
EU MATIF Exchange: Corn +0.0% and Wheat +0.0%
WEATHER:
- Midwest weather forecasts are again little changed this morning, and look to feature several rounds of relatively disorganized low pressure systems providing snowfall and moisture to the northeastern US and areas around the Great Lakes. Areas to the west and southwest see little to no precip potential through the end of the week and weekend, while the forecast likely has difficulty pinpointing exact precip amounts/locations in the central areas that are along the border of these systems.
- Forecasts again trended drier for Argentina's growing regions overnight, which continues to be the number one forecast feature for South America in the short term. Models continue to see rains returning at the end of the 10-day forecast, but the moisture is seemingly unable to be pulled forward in the forecast at this point, which will continue to need monitoring. Nothing new this morning for Brazil, as conditions throughout most all the country are expected to remain near-ideal.
OTHER HEADLINES:
- On first notice day for January futures contracts, the CME Group overnight assigned 1,062 contracts of soybeans for delivery, along with 7 contracts of soybean oil and 505 contracts of rough rice.
- This morning's weekly export sales report, which continues to show delayed figures from previous weeks, is expected to show corn sales in the week ending December 18th in a range of 1.0-2.0 MMTs, soybean sales in a range of 1.4-2.4 MMTs, and wheat sales in a range of (50k)-400k MTs. Data is due out at 7:30am central time this morning.
- Traders see weekly ethanol data for the week ending December 26th in this morning's update showing average daily production in the week between 1.055-1.130 mil bbls/day, while stocks in the week are seen between 22.00-23.19 mil bbls. The report is due out at its regular 9:30am central time.
- Argentina's Buenos Aires Grain Exchange on Tuesday again bumped up their estimate of the country's wheat crop, now seeing production at 27.8 MMTs, vs 27.1 previous, and still a new all-time record by more than 5 MMTs. The exchange added that harvest was 92.8% complete, and also mentioned in the report that corn planting for the year has reached 84.2% complete and that soybean planting has reached 82% complete; there were no production estimate updates made for either of these crops.
- China's Commerce Ministry on Wednesday set import quotas for beef imports in 2026 at 2.7 MMTs, with Brazil being assigned the highest portion of this at 41%, while Argentina received 19% and Uruguay received 12%; the US, for comparison, was awarded just 164,000 MTs, or some 6% of the total. The new measures will go into effect on January 1, and will be on a three year sliding scale that is expected to reach a total quota of 2.8 MMTs by 2028.
- Fuel data this week shows US gasoline prices fell for a fifth straight week, with the national average of $2.75/gallon down nearly 23 cents over the past month to the lowest New Year's level in the last five years. The drop in prices comes despite supply disruption concerns stemming from increased sanctions on Russia and Venezuela. Prices in the month were down in every state over the month, with some markets even dipping below the $2/gallon level.
EXPORT NEWS:
- N/A
Be careful! Happy New Year!!
Bailey Runyen
Grain Originator | Topflight Grain Coop.
101 N. Main St. | Cisco, IL 61830
Phone :: 217-669-2141
Email :: brunyen@tfgrain.com
