Grain Market Commentary 12/18/25
CBOT Pricing:
Corn extended their recovery off their lows earlier this week, closing 2-5 cents higher than the prior settlement. The Mar26 contract closed 4 cents higher at $4.445. The May26 and Jul26 contracts ended the day 4.5 cents higher at $4.5225 and $4.58, respectively.
Soybeans closed lower for the 11th time out of the last 14 sessions, based on technical selling pressure and lack of fresh bullish news. The Jan26 contract finished the day down 6 cents at $10.5225. The Mar26 contract closed down 6.75 cents to close at $10.62.
Market Headlines:
China has purchased more than half of its 12mmt US soybean commitment:
Bloomberg reports that while the USDA has confirmed less than 4 mmt of soybean sales to China for the 2025/26 marketing year, an anonymous source told Bloomberg that Sinograin, China’s state-owned grain reserve manager, bought roughly 2 mmt of US soybeans last week. In addition to officially reported sales, about 3 mmt of US soybeans have been sold to unknown destinations, with China believed to account for up to 50% of these sales.
Russian attacks disrupt Ukrainian grain exports:
Russia has increased strikes on Black Sea ports, forcing temporary closures at many export terminals. Rail infrastructure to the ports has also been targeted. These disruptions contributed to Ukraine shipping only 36% of contracted wheat exports for the month as of mid-December.
An early winter storm is traveling across the Midwest:
The Corn Belt is experiencing windy conditions along with a transition from rain to snow. Much of the region is seeing mild, rainy, and windy weather followed by a strong cold front.
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