The USDA has reported the following private export sales:
-100,800 metric tons (4 million bushels) of corn to Columbia
-392,500 metric tons (15.5 million bushels) of corn to Mexico
both for the 2025/2026 marketing year
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Back to ReportsExtreme cold and dry conditions reaching into southern Iowa and Illinois to start the day while some rain heading into dry areas from the Gulf to the Carolinas. South America is good for now but drought concerns for Argentina could grow as they go into a warm and dry stretch
At the pause...
Corn is sitting in the middle of the recent range and just under the 20-day MA. Soybeans and wheat try to hold above nearterm support while searching for demand
Mar CORN up 1 cent at $4.44½
Jan SOYBEANS up 4 cents at $11.19¾
Mar WHEAT down 2½ cents at $5.35¾
Building uncertainty surrounding the Chinese demand for soybeans has the market very volatile and subject to headlines. We have not seen any new orders from China so far this week so that leaves room for prices to fall further into the low $11.00 area in front month contracts
All this corn demand and usage is going to come in handy in January when either the USDA lowers yield significantly or leaves it mostly untouched. We'll either have avoided disaster or have a much more optimistic supply picture than many anticipated
Hog markets headed back in a positive direction and $80+ just might be sticking around for awhile as a floor...
February hogs added 82.5 cents to close the day at $81 on the nose
Selected grain contracts at settlement...
Markets not a fan of Treasury Sec Bessent now saying China's purchases of 12 MMT of soybeans will take until end of February...
Mar CORN: down 6½ cents to $4.43½
Jan SOYBEANS: down 9 cents to $11.15¾
Mar WHEAT: down 2¾ cents to $5.38¼
Another new all-time high for weekly ethanol production for the week that ended November 21st. There were 331 million gallons of ethanol produced using 112 million bushels of corn. The 16.03 mb used per day were well above the 15.3 needed per day to meet the USDA forecast
