Corn and wheat futures closed slightly higher on the first day of trading in the New Year on Thursday, while wheat was lower.
Soybeans traded to both sides of unchanged during the day amid light volumes, with most of the support coming from drier weather in Argentina. Much of Argentina is expected to be mainly dry over the next couple of weeks, with crop stress rising as soil moisture declines. Areas of southern Brazil are drying down as well. March soybeans were up 1 ½ cents at $10.12, and new-crop November gained 2 ¾ cents to $10.28.
There was little fresh news and light volume to move the corn market, which also traded to both sides of unchanged during the day. The developing dryness in Argentina and southern Brazil offered support to corn. March gained a penny to $4.59 ½, and December 2025 was up 2 ¾ cents at $4.46 ½.
Wheat was undermined by chart selling and strength in the American dollar, especially as the currency of Russia – the world’s top wheat exporter – weakens, making American supplies even more uncompetitive in the international market. March Chicago wheat fell 5 ¾ cents to $5.45 ¾, March Kansas City was down 7 ½ cents at $5.51 ¾, and March Minneapolis dropped 6 ¼ cents to $5.89 ½.
