Don’t miss the latest market commentary from the Farm Futures team. Sign up for the complimentary morning and afternoon market newsletters!
Despite more positive demand signals in the form of three additional flash sales announced Friday morning, traders engaged in a widespread pattern of technical selling that eroded most grain prices lower today. Corn prices were slashed 1% to 1.25%, while some soybean contracts were down more than 1.5%. Winter wheat prices also incurred moderate losses heading into the weekend.
Some light rains and snow is possible across some portions of the Corn Belt over the next several days, although very few fields are likely to gather more than 0.25” between Saturday and Tuesday, per the latest 72-hour cumulative precipitation map from NOAA. Later this month, NOAA’s new 8-to-14-day outlook predicts seasonally dry conditions persisting in parts of the Central and Southern Plains between December 19 and December 25, with warmer-than-normal temperatures likely for most of the country during this time.
On Wall St., the Dow tilted 227 points lower in afternoon trading to 48,476 as investors remain skittish about AI and the tech sector. Energy futures were in the red, with Brent crude oil futures down around 0.25% this afternoon, staying just above $61 per barrel. Gasoline futures were also down around 0.25%. The U.S. Dollar firmed slightly.
Corn prices took an end-of-week tumble
Prices suffered a moderate setback amid a widespread round of technical selling that had prices eroding steadily throughout Friday’s session. March futures fell 5.75 cents to $4.4075, with May futures down 5.25 cents to $4.49.
Private exporters announced to USDA the sale of 9.8 million bushels of corn for delivery to unknown destinations during the 2025-26 marketing year, which began September 1.
Delayed Census data showed that corn exports in September climbed to 274.7 million bushels. That was a 9.1% month-over-month improvement and jumped 60.9% above September 2024 volume. Ethanol shipments for September reached 148.4 million gallons, which reflects ongoing strong demand for U.S. ethanol in overseas markets.
Chinese fertilizer industry groups want to clamp down on exports of phosphate-based farm nutrients to protect domestic needs. “The latest move, which could amount to a de facto ban, will mark a further tightening of Beijing’s controls and could push up global phosphate prices that have only just come down from multi-year highs,” according to reporting from Bloomberg. Click here to learn more.
Corn settlements on Thursday were for 224,128 contracts.
Soybean prices were slashed by double digits
Prices began to stumble lower and continued to erode throughout Friday’s session as traders continued to engage in a pattern of technical selling. January futures stumbled 16.75 cents lower to $10.7675, with March futures down 16 cents to $10.86.
The rest of the soy complex was mixed. January soymeal futures inched 0.13% higher, while January soyoil futures stumbled 1.64% lower.
Private exporters announced to USDA the sale of 4.8 million bushels of soybeans for delivery to China during the 2025-26 marketing year, which began September 1. Private exporters also announced the sale of 104,328 metric tons of soymeal to Mexico. Of the total, 90% is for delivery during the 2025-26 marketing year, with the remaining 10% for delivery in 2026-27.
China’s state-owned grain stockpiler Sinograin plans to auction off 18.9 million bushels of its soybean supplies next Tuesday to domestic crushers and feed producers. This strategy is often deployed to ease prices for the world’s No. 1 soybean importer.
Bankruptcies aren’t just a concern for U.S. farmers, notes Matthew Kruse, who farms in both Iowa and Brazil. In fact, bankruptcies in Brazil have tripled over the last two years, going from 534 bankruptcies in 2023 to 1,172 over the first three quarters of 2025. “Brazilian farmers are silently going broke,” he says. Kruse explores the situation in greater detail in the latest Ag Marketing IQ In Depth video – click here to watch.
Indiana farmer Kyle Stackhouse found himself in the market to acquire two used trucks, and he needed to make sure they had an automatic transmission. “It’s true – fewer people know how to drive a stick,” he notes. “I’ve said it before: semi-trucks and trailers are a necessary evil in agriculture. Maintenance is expensive. Fuel isn’t cheap. And finding qualified part-time help to drive these big rigs can be tough.” Stackhouse shared his thoughts on this search in his latest Between the Fencerows column – click here to learn more.
Soybean settlements on Thursday were for 294,954 contracts.
Winter wheat prices followed other commodities lower
Prices were caught in the crosshairs of a widespread selloff that also negatively affected Wall St. and energy prices, along with other grains. March Chicago SRW futures fell 4.25 cents to $5.2925, with March Kansas City HRW futures down 4.25 cents to $5.18.
The latest Census data showed that wheat exports reached 118.68 million bushels in September – a 12-year best for that month. It was also nearly 20% above August 2025 volumes. Total exports this marketing year are expected to reach 900 million bushels, which would be a 9% year-over-year increase, if realized.
South Korean importers purchased 2.4 million bushels of wheat from optional origins in a private deal that closed overnight.
And finally, have you ever been interested in converting some of your farm to organic production? A free webinar series comprised of 10 online sessions begins in January called the “Transition to Organic Webinar Series.” It covers the certification process, pest management, soil health, market dynamics and more. This series is hosted by the Community Alliance with Family Farmers and several other California entities – this is a natural fit, as California currently has the most organic farms. Click here to learn more.
CBOT wheat settlements on Thursday were for 105,340 contracts.