December 30, 2025

Mid-Co Morning Comments:
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• Grain markets are mostly firmer this morning. Soybeans are near session highs at the break while March corn is ½ c firmer. Corn spreads are a touch firmer.
• Soybean CIF was stronger yesterday. January CIF beans traded at +103F and reports of +40F traded at multiple terminals in St Louis for Jan Shipment. Soybean spreads were also wider yesterday with SF/SH currently trading near -14.
• Processor basis was mixed yesterday: Some soybean terminals have shifted bids to the SH and firmed a couple of cents in the process.
• The Argentine forecast has trended drier for the 10-day precipitation which may be supporting soybean futures this morning; however, plenty of rain is still projected to fall in Brazil.
• Flash sales to China for soybeans are expected to be announced this morning. There were some rumors that China booked some soybeans for March/April shipment. There were also rumors that China auctioned off a good amount of grain reserves yesterday which may have pushed the market lower.
• Russia and Ukraine peace talks hit a snag last night. Reports surfaced that Ukraine attempted to attack Russian President Putin’s home in Lake Valdai. President Trump was not pleased with Ukraine’s actions and called for peace in the region.
• Reminder: Tomorrow is first notice day for January ‘26 Soybean futures. Any longs at the end of today’s close will be reported. Please reach out with any questions.