Grain Market Commentary 12/01/25
CBOT Pricing:
Corn ended the day 1-3 cents lower, with the nearby leading the way. The Mar26 contract finished at $4.45, 2.75 cents down. The May26 contract ended 2.5 cents down at $4.5325. The Mar-May spread settled today at -8.25 cents. The spread has relaxed in the last two weeks after firming up steadily since August.
Soybeans traded steadily lower through the day session. The Jan26 contract lead the way down, ending 10.5 cents lower at $11.2725. The Mar26 contract slipped down 9 cents at $11.37.
Market Headlines:
A weekend winter storm in the Midwest halted grain flow:
Over the weekend Iowa, Minnesota, Wisconsin, Michigan, as well as parts of North Dakota, South Dakota, Nebraska, Missouri, Illinois, and Indiana were covered in 2-10 inches of snow. The winter storm brought physical movement to a halt.
China suspended purchases from certain Brazilian export facilities:
Shipments from five different export facilities in Brazil have been suspended due to traces of pesticide-treated wheat. These suspensions have been applied to export facilities owned by Cargill, CHS, and Louis Dreyfus. Exports that originate from unaffected facilities will continue.
Similar issues occurred earlier this year with Brazilian shipments to China but were rapidly resolved.
USDA flash sales:
On Friday, the USDA reported US exporters sold 312,000mt, or 11 million bushels, to China for 2025/2026 marketing year delivery. In addition, they reported that exporters sold 273,988 mt, or 11 million bushels, to unknown destinations for delivery in the 2025/2026 marketing year.
Weekly USDA Export Inspections:
(week ended 11.27.25)
US corn export inspections were 1.421 mmt (56.0 million bushels), above market expectations of 1.00-1.25 mmt (39.4-49.2 million bushels), but below the previous week’s report of 1.696 mmt (66.8 million bushels). While this last week did slip from the previous, corn export inspection pace continues to run well above last year’s slow-starting year. This week last year showed a report of 949k mt (37.4 million bushels). Cumulative corn export inspections bushels for the 2025/26 marketing year are now at 747 million bushels, 71% up from this time last year. This week’s top export destinations include Japan, Mexico, and Colombia.
US soybean export inspections for last week were 920k mt (33.8 million bushels), within market expectations of 800k mt – 1.25 mmt (29.4-45.9 million bushels), and slightly up from the previous week’s 809k mt (29.7 million bushels). Soybean export inspections continue to run below last year’s pace, with this week last year reporting 2.11 mmt (77.5 million bushels) being shipped. Cumulative soybean export inspections are now at 436 million bushels, compared to 802 million bushels at the same time last year. This week’s top export destinations include Italy, Mexico, Pakistan, and the UK.
Let’s Talk!
Yield365 – Grain Marketing Simplified
Call: 815.823.2522
Click HERE to learn more
Click HERE to view previous market commentary
Disclaimer: The risk of using futures and options can be substantial and individuals must consider whether they are suitable for their operation. Marketing advice is based on information obtained from third-party sources and is believed to be reliable but not guaranteed by Yield 365. Past performance is not necessarily indicative of future results. Marketing advice reflects our good faith judgement at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades.