Chicago Close: Holiday Trade Stirs Modest Shifts in Crop Futures


Crop futures made only minor fluctuations in holiday-reduced trading, with corn ticking downward while soybeans were slightly higher and wheat ended mixed. The trade focused on end-of-year positioning, ongoing dry weather forecasts for key production regions, and a macroeconomic backdrop of weaker equity markets.

Corn was weighed down by expectations of farmer selling as the calendar flips to 2025. However, weather forecasts remain dry for much of Argentina over the next two weeks, maintaining concerns about production potential and limiting selling pressure. March corn inched down 1 3/4 cents to $4.52 3/4, and December 2025 was down 1 3/4 at $4.39.

Soybean futures finished firm. Argentina's persistent dry weather casts a shadow over crop prospects, although Brazil's soybean production potential remains extremely high. March beans were up 2 cents to $9.91 3/4, and November added 3 3/4 cents to $10.08 1/4.

Wheat futures closed mixed, with some contracts edging higher on concerns over dry and warm conditions in Russian and Argentine grain areas. Export prices for Russian wheat rose modestly, but Ukrainian offers remain competitive. March Chicago gained 1 3/4 cents to $5.48 1/4, March Kansas City added 1 3/4 cents to $5.55 3/4, but March Minneapolis lost 1 1/2 cents at $5.93 3/4.



Source: DePutter Publishing Ltd.

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