TFM Morning Update 11-25-2025

HAPPY THANKSGIVING FROM ALL OF US AT TOTAL FARM MARKETING!

THURSDAY, NOVEMBER 28: The CME and Total Farm Marketing offices are closed.

FRIDAY, NOVEMBER 29: The CME closes at noon, and Total Farm Marketing closes at 1:00 p.m. (CST).

CORN

Corn futures are trading higher to start the day and are coming off four consecutive days of losses. December corn is up 1-1/2 cents to $4.25-1/4 while March is up 1-3/4 cents to $4.38-3/4. Technically, futures are very oversold.
The US crop progress report was released yesterday and showed that the corn harvest is now 96% complete which is 4% behind from progress a year ago. The next WASDE report should give a more accurate picture of total production and yields.
Yesterday’s export inspections report was strong for corn with 1,632k tons inspected which compared to 2,066k last week and 1,009k a year ago at this time. Top destinations were to Mexico, Japan, and Korean Republic.

Soybean futures are trading lower again this morning and may be forming a bearish head and shoulders pattern on the chart. January soybeans are down 3 cents to $11.20-1/4 and March is down 2-3/4 cents to $11.29-1/4. December soybean meal is up $3.40 to $317.60 while December soybean oil is down 0.58 cents at 49.60 cents.
According to AgRurual, the Brazilian soybean planting is no 81% complete as of November 20. this is down from 86% a year ago at this time, and there are some concerns over irregular rainfall in Mato Grosso and Goiás states.
Yesterday’s export inspections for soybeans were 799k tons which was down from last week’s 1,205k and down from 2,120k a year ago. Top destinations were to Bangladesh, Algeria, and Taiwan.

Wheat is mixed to start the day with only the Minn contract trading higher. December Chicago wheat is down 1-1/2 cents to $5.20-3/4, KC wheat is down 1/4 cent to $5.07, and Minn wheat is up 1/4 cent to $5.68.
The winter wheat crop is reportedly 97% planted at this time which is on par with the 5-year average. 87% of the crop has emerged which is slightly behind the average of 89%. 48% of the crop is rated good to excellent which is up 3 points from a week ago but down 7 points from last year.
Wheat export inspections were 475k tons for the week ending November 20. This compared to 247k last week and 366k a year ago. Top destinations were to the Philippines, Bangladesh, and Mexico.

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